Banks, Insurers to Assist Sri Lanka’s Cyclone-Affected Communities

The Government is working with banks and insurance companies to support households, SMEs, and businesses affected by Cyclone Ditwah and the recent flooding, Treasury Secretary Dr. Harshana Suriyapperuma said yesterday. He noted that the poorest families and small enterprises are struggling to recover, prompting the Treasury to coordinate financial-sector assistance to manage loan stress and accelerate insurance payouts.

Nearly Rs. 30 billion from emergency reserves has been allocated for immediate relief, including Rs. 7.5 billion for damaged housing. District and Ministry Secretaries have been granted expanded spending authority to fast-track support. Dr. Suriyapperuma is set to meet insurance industry leaders this week to review claims-handling and sector-wide responses.

A World Bank-supported rapid damage assessment is underway, while banks and private firms have helped raise over Rs. 300 million in donations. Authorities maintain that despite the destruction, the 2026 economic reform path remains unchanged.

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