Discussion underway with World Bank to assess damage, financial requirements for reconstruction: President

1 December 2025 05:27 pm Views - {{hitsCtrl.values.hits}} 2 Bookmark

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Colombo, Dec. 1 (Daily Mirror) - The government has begun discussions with the World Bank to prepare a detailed assessment of the damage across sectors and the financial requirements for reconstruction, President Anura Kumara Dissanayake said.

He said the World Bank has already been commissioned to conduct the Global Rapid Post-Disaster Damage Estimation (GRADE). The government expects to receive the GRADE assessment within approximately two weeks.

The President made these remarks during a meeting held at the Presidential Secretariat with a group of private sector investors.

President Dissanayake stated that it is intended to establish a fund with contributions from all sectors and to appoint a Joint Management Committee, comprising both public and private sector representatives, with Cabinet approval, to oversee the management of the fund.

Highlighting the extent of the devastation caused by floods and landslides, the President noted that the damage is far greater than what is visible on the surface. He emphasised that the

Treasury alone cannot bear the full financial burden of recovery.

President Dissanayake further noted that funds for reconstruction could be mobilised through multiple channels, including local contributions, the Sri Lankan expatriates, foreign

governments, international organisations and business associations. The coordination and management of these efforts will primarily be entrusted to the appointed committee.

He further pointed out that houses, farmlands, plantations, highways, bridges, government buildings, schools and even electricity poles have been destroyed as a result of the disaster.

Landslides have caused extensive damage to road networks, which will require major rehabilitation.

Comments - 2

Rohan Abeygunawardena Monday, 01 December 2025 05:55 PM

This is a good move by the President and NPP. Not only assessing damage, the world Bank will also provide funds for reconstruction. It was initially established as International Bank for Reconstruction and Development after the World War II and helped the Europe to rebuild their nations. Government also should aim for a modernised country. R

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Sahan Monday, 01 December 2025 07:31 PM

You should first ask imf to ease tough conditions for at least 3 years until fully recover. With that amend tax laws. Apply zero tax for anyone earning foreign remittance while in SL. Reason is this set is more valuable than those who reside abroad as these guys spend majority of money locally. So it helps the economy. Freelancers and export businesses are in this category. Then reduce ta x burden on other people too. Allow the economy to develop with major tax cuts. Try to get more aid from overseas as much as possible. This way our reserves can be strengthen. Use the help from military to rebuild roads and major structures broken so that cost can be minimized and they will do it faster too compared to others. Include a plan rebuild the life of those who have lost everything so that it will benefit the economy on long term.

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