🇱🇰 New Fund Launched for Post-Disaster Infrastructure Rebuilding 📈

• Government Initiative: President Anura Kumara Dissanayake announced the establishment of a dedicated, medium and long-term Post-Disaster Rebuilding Fund to mobilize resources for national recovery. • Objective: Reconstruct essential infrastructure (e.g., highways, irrigation systems) severely damaged by recent floods and landslides, as the financial burden is too large for the Treasury alone. • Management & Oversight: A Joint Management Committee, comprising both public and private sector representatives, will be appointed with Cabinet approval to oversee the fund's management. • Funding Channels: Resources will be sourced via local contributions, Sri Lankan expatriates, foreign governments, international organizations, and business associations. • Key Damage Areas: Devastation is noted across houses, farmlands, plantations, roads, bridges, schools, and electricity infrastructure, requiring major rehabilitation of road networks. • Damage Assessment: The government has commissioned the World Bank to conduct a Global Rapid Post-Disaster Damage Estimation (GRADE) to detail sectoral damage and financial needs. The assessment is expected within approximately two weeks.