Govt. to finalise disaster risk financing strategy by mid-2027

Monday, 2 November 2026 06:06 - - {{hitsCtrl.values.hits}}

Sri Lanka’s National Disaster Risk Financing Strategy is expected to be finalised by mid-2027, the Public Debt Management Office (PDMO) of the Ministry of Finance, Planning and Economic Development said, following a stakeholder workshop on its preparation.

The PDMO is leading the development of the strategy with technical assistance from the Asian Development Bank (ADB). It aims to strengthen national financial resilience, protect development gains and enhance the Government’s capacity to manage the fiscal impact of natural disasters.

The workshop, held on 21 October, brought together disaster risk management stakeholders, relevant Government institutions, development partners and insurance industry representatives. It focused on the need for a comprehensive strategy to strengthen financial preparedness for natural disasters, health emergencies, energy supply and food price shocks, and other situations within its scope.

Discussions highlighted the need to identify and assess disaster-related fiscal risks, select appropriate financing instruments and adopt a risk-layering approach, under which different financing tools are matched to disasters of different frequency and severity, to ensure timely and sustainable funding for response and recovery while safeguarding fiscal stability.

The PDMO said the active engagement of key stakeholders would be important in developing a practical and sustainable strategy aligned with Sri Lanka’s requirements.