World Bank announces US$ 120 million in emergency support for Sri Lanka

The World Bank Group Bank has announced up to US$ 120 million in emergency support for Sri Lanka to assist ongoing recovery and restoration activities.

Issuing a statement, the World Bank Group said in response to the government’s request, it is making up to US$120 million in emergency support available by repurposing funds from ongoing projects.

This will support recovery and help restore essential services and infrastructure—including health care, water, education, agriculture, and connectivity in the areas hit hardest by Cyclone Ditwah, the World Bank noted.

The International Finance Corporation (IFC), the private sector arm of the World Bank Group, is expected to continue to strengthen the private sector by providing advisory support and strategic investments in key sectorssuch as agriculture, manufacturing and logistics, including support to MSMEs—to create jobs and drive economic recovery.

To guide recovery efforts, a Global Rapid Post-Disaster Damage Estimation (GRADE) assessment is already underway in partnership with the Global Facility for Disaster Risk Reduction (GFDRR).

 

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