World Bank pledges up to US$120 million in emergency support for Sri Lanka

Sri Lanka
By Editor_1
An estimated 2.3 million people – more than half of them women – were living in areas flooded by Cyclone Ditwah that struck Sri Lanka on November 28 - UNDP

COLOMBO – The World Bank Group on Monday (15) announced up to US$120 million in emergency financial support for Sri Lanka to aid recovery efforts following the widespread devastation caused by Cyclone Ditwah, which left thousands displaced and caused extensive damage to homes, livelihoods, and infrastructure.

In a statement issued on Monday, the World Bank said the funding will be mobilizd by repurposing resources from existing projects, following a request from the Sri Lankan government. The emergency support is aimed at restoring essential services and infrastructure in the worst-affected areas, including health care, water supply, education, agriculture, and transport connectivity.

“The World Bank Group is deeply saddened by the devastation caused by Cyclone Ditwah,” the statement said, adding that it commended the resilience shown by Sri Lankan communities and the government’s swift response to save lives and initiate recovery efforts.

The International Finance Corporation (IFC), the World Bank Group’s private sector arm, will also scale up support for economic recovery through advisory services and strategic investments. This will focus on key sectors such as agriculture, manufacturing, logistics, and micro, small and medium-sized enterprises (MSMEs), with the aim of protecting jobs and revitalising local economies.

To guide recovery planning, a Global Rapid Post-Disaster Damage Estimation (GRADE) assessment is already underway in partnership with the Global Facility for Disaster Risk Reduction (GFDRR). The assessment will provide early estimates of damage and losses to help prioritise response and reconstruction efforts.

The World Bank said it is also working closely with the government on broader recovery planning, including the establishment of a new ‘Rebuilding Sri Lanka’ Fund and the next phase of post-disaster needs assessments.

“Our hearts go out to every Sri Lankan affected by Cyclone Ditwah,” said Gevorg Sargsyan, World Bank Group Country Manager for Sri Lanka and Maldives. “We are inspired by how communities across the country have come together to support each other. The World Bank Group remains committed to helping Sri Lanka restore livelihoods, accelerate economic recovery, and rebuild stronger, safer, and more resilient communities.”

Looking ahead, the World Bank Group said it stands ready to mobilize additional resources based on the findings of the GRADE assessment and the country’s evolving reconstruction needs. It also noted that future programmes may be adjusted to reflect the long-term impacts of the disaster.

The Bank emphasized that robust oversight mechanisms will be put in place with implementing agencies and local authorities to ensure assistance reaches those most in need in a transparent and effective manner. Coordination with development partners will continue to maximise impact and support Sri Lanka’s long-term recovery and resilience.

-ENCL

Editor_1
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