“Rebuilding Sri Lanka” Fund receives Rs. 1,893 million thus far

The “Rebuilding Sri Lanka” programme, initiated to restore the country following the damage caused by Cyclone “Ditwah,” has received a total of Rs. 1,893 million in funding from domestic sources, overseas Sri Lankans, and various institutions, the Secretary to the Ministry of Finance, Planning and Economic Development, Dr. Harshana Suriyapperuma has stated.

The Secretary to the Ministry of Finance further mentioned that a discussion was held, led by the Insurance Regulatory Commission of Sri Lanka and attended by the heads of all insurance companies, to establish a compensation framework for businesses and properties damaged by the cyclone.

During the discussion, it was revealed that all insurance companies have already begun implementing a fast-track compensation mechanism for businesses, properties, and lives affected by the disaster.

Accordingly, steps to provide immediate compensation for minor property damage have already commenced. Compensation for major property damage will be made after collecting the necessary information; however, insurance company representatives indicated during the discussion that a portion of the compensation funds will be disbursed immediately even before full assessments are completed, Dr. Harshana Suriyapperuma added.