Sunday Jan 25, 2026
Sunday Jan 25, 2026
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| President Anura Kumara Dissanayake |
The Cabinet has approved the establishment of the ‘Rebuilding Sri Lanka’ Fund as a statutory mechanism under the Presidential Secretariat to finance the country’s medium- and long-term recovery from Cyclone Ditwah.
A public–private Management Committee has been appointed to oversee the mobilisation and allocation of resources for reconstruction. The Fund will integrate both the public and private sectors to mobilise resources for rebuilding the country’s essential infrastructure, such as highways and irrigation systems damaged by the recent disaster.
The newly appointed Management Committee will be chaired by Labour Minister and Finance and Planning Deputy Minister Dr. Anil Jayantha Fernando, with Senior Additional Secretary to the President G.M.R.D. Aponsu serving as Convenor.
The Committee includes senior Government officials and leading private sector representatives from Hayleys, John Keells, Aitken Spence, Brandix, and LOLC. It has been mandated to administer the Fund, set priorities, disburse resources, and maintain full transparency in financial operations.
The Government has also released designated accounts at the Bank of Ceylon and multiple international correspondent banks to enable both domestic and overseas donors to contribute in several currencies.
President Anura Kumara Dissanayake during a meeting held on Sunday with a group of private sector investors highlighted the extent of the devastation caused by floods and landslides, noting that the damage is far greater than what is visible on the surface. He emphasised that the Treasury alone cannot bear the full financial burden of recovery.
President Dissanayake further noted that funds for reconstruction could be mobilised through multiple channels, including local contributions, the Sri Lankan expatriates, foreign Governments, international organisations, and business associations. The coordination and management of these efforts will primarily be entrusted to the appointed Committee.
He further pointed out that houses, farmlands, plantations, highways, bridges, Government buildings, schools, and even electricity poles have been destroyed as a result of the disaster. Landslides have caused extensive damage to road networks, which will require major rehabilitation.
The President also noted that the Government has begun discussions with the World Bank to prepare a detailed assessment of the damage across sectors and the financial requirements for reconstruction. The World Bank has already been commissioned to conduct the Global Rapid Post-Disaster Damage Estimation (GRADE). The Government expects to receive the GRADE assessment within approximately two weeks.
The management committee comprises the following: Foreign Affairs, Foreign Employment and Tourism Ministry Director General – Europe and North America Sugeeshwara Gunaratna, Senior Additional Secretary to the President G.M.R.D. Aponsu, Senior Adviser to the President Duminda Hulangamuwa, Finance, Planning and Economic Development Ministry Secretary Dr. Harshana Suriyapperuma, Western Province Governor Hanif Yusoof, Labour Minister and Deputy Finance and Planning Minister Dr. Anil Jayantha Fernando,'Hayleys Group Executive Chairman Mohan Pandithage, John Keells Holdings Chairperson/CEO Krishan Balendra, LOLC Executive Chairman Ishara Nanayakkara, Aitken Spence Deputy Chairman and Managing Director Dr. Parakrama Dissanayake and Brandix CEO Ashroff Omar.
