🌪️ Int'l Partners Affirm Support; IMF $350m Tranche Expected

A donor forum co-chaired by CBSL Governor and Treasury Secretary reviewed the impact of Cyclone Ditwah and coordinated future support. • Immediate Financial Aid: The International Monetary Fund (IMF) informed that Sri Lanka can access approximately US$ 350 million, the sixth tranche of the Extended Fund Facility (EFF), within two weeks. • Humanitarian Support: Development partners reaffirmed their commitment to providing immediate disaster relief, emergency services, and humanitarian support (e.g., food, water, medical supplies). • Rehabilitation Pledges: Partners agreed to repurpose and redesign existing loan facilities to support medium-term rehabilitation of key economic and social infrastructure (major roads, bridges, irrigation). They are also exploring new loan and grant facilities. • Damage Assessment: The World Bank has undertaken a rapid post-disaster assessment to quantify damages across all sectors, crucial for mobilising medium- to long-term funding. • Economic Context: GoSL highlighted the necessity of external financial support, particularly concessional financing, due to constraints from shrinking economic sectors and limited domestic borrowing capacity. • Sector Focus: Partners were requested to promote visits to Sri Lanka to assist the recovery of the tourism sector.