Thursday Jun 18, 2026
Thursday Jun 18, 2026
Wednesday, 17 June 2026 07:01 - - {{hitsCtrl.values.hits}}
The Cabinet of Ministers on Monday approved obtaining $ 200 million in financing from the Asian Development Bank to support the reconstruction of infrastructure and restoration of livelihoods damaged by Cyclone Ditwah, which struck the country in November 2025.
According to the Government, a post-disaster needs assessment estimated damages at approximately $ 2.1 billion and economic losses at $1.4 billion, placing total recovery and reconstruction requirements at around $ 3.5 billion.
In response to the Government’s request for assistance, the ADB has agreed to support the implementation of the Post-Ditwah Cyclone Renovation and Livelihood Assistance Project. The program will focus on three key areas: rehabilitation of road infrastructure damaged by the cyclone, reconstruction of affected irrigation systems, and livelihood restoration and housing assistance for impacted communities.
Under the approved financing package, Sri Lanka will obtain $ 100 million from the ADB’s ordinary capital resources and another $ 100 million from concessional lending facilities, bringing the total project financing to $ 200 million.
The proposal to secure the funding was submitted by President Anura Kumara Dissanayake in his capacity as Finance, Planning and Economic Development Minister.
When asked about the country’s growing debt burden, at the weekly post-Cabinet meeting media briefing yesterday, Cabinet Spokesman and Minister Dr. Nalinda Jayatissa justified the move.
“Unlike previous administrations, the National People’s Power (NPP)-led Government was borrowing to finance projects that would deliver tangible outcomes and contribute to long-term recovery and development,”
he said.
