Sri Lanka creates recovery fund after Cyclone Ditwah damage
Sri Lanka’s Cabinet of Ministers has approved the creation of a new fund to support national recovery efforts after the severe destruction caused by Cyclone Ditwah, which the government described as one of the most devastating natural disasters in recent years.
Under the cabinet decision, the “Rebuilding Sri Lanka” fund will be established as a statutory body under the Presidential Secretariat, News.Az reports, citing Xinhua.
Its management committee will include senior government officials as well as private-sector representatives.
Minister of Labor and Deputy Minister of Finance and Planning Anil Jayantha Fernando has been appointed chairman of the committee.
The committee will oversee the fund’s operations, assess recovery needs, set priorities, allocate resources, and disburse funds for approved projects. It will also be tasked with ensuring transparency in all financial procedures, including management and auditing.
Sri Lanka’s Disaster Management Center reported on Tuesday that the death toll from the extreme weather has risen to 410, with 336 people still missing.
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