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Sri Lanka : SRI LANKA starts new WORLD BANK system to curb disaster finances

July 14, 2014

Sri Lanka has inaugurated way of World Bank financing, through which natural disasters would be immediately funded.

The World Bank has decided to allocate 102 million US dollars to the Sri Lankan Government. In the past two decades, the government has faced many natural disasters. These cover landslides, floods, high winds, cyclones, tsunami etc.

The government is taking significant initiatives in stepping up the public mechanism to assure disaster management is done efficiently. Moreover, the project is targeted at bolstering physical resilience to hydro metrological events through climate flexible infrastructure.

In addition, the government intends to aim on long-term capital development.

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Source: TendersInfo (India)

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