Sri Lanka’s disaster damage is far deeper than what meets the eye, and rebuilding the nation will require collective strength, new funding models, and unprecedented cooperation between the government, private sector and global partners.
President Anura Kumara Dissanayake stated that the destruction caused by recent floods and landslides is far greater than what is visible on the surface. Addressing private sector investors at the Presidential Secretariat, the President said that the crisis cannot be repaired with treasury funds alone and called for a national effort to rebuild the country’s critical infrastructure.
The government has now decided to launch a medium term and long term program that brings together the public sector and private sector to raise funds for rebuilding essential facilities. This includes highways, damaged irrigation systems, collapsed bridges, farmlands, public buildings and the many roads devastated by landslides. The President said a national fund will be established with participation from all sectors of society and will be managed by a joint committee consisting of public and private representatives with cabinet approval.
He pointed out that houses, paddy fields, government buildings, schools, electricity lines and entire communities have been severely affected. Many regions require complete restoration of transportation networks, especially in districts where landslides have wiped out road systems. He added that the magnitude of the destruction demands a coordinated national recovery effort.
The President said that funds can be raised locally and internationally, and highlighted that contributions can come from Sri Lankans living abroad, foreign nations, international organisations and business associations. These responsibilities will be assigned to the newly appointed committee managing the reconstruction fund.
To determine the real economic impact, the government has begun discussions with the World Bank to assess the losses across every sector. The World Bank has already been tasked with preparing the Global Rapid post disaster Damage Estimation known as GRADE. The government expects this assessment within two weeks and will use it as the foundation for nationwide reconstruction planning.
The discussion was attended by senior government officials and leading business figures including Minister Vijitha Herath, Deputy Minister Anil Jayantha Fernando, Western Province Governor Hanif Yusup, Secretary to the President Dr. Nandika Sanath Kumanayake, Senior Economic Advisor Duminda Hulangamuwa, and senior representatives from John Keells, Aitken Spence, Helis Group and the Brandex Group.
