Rs. 24 billion released to those affected by Cyclone Ditwah- Officials

Officials have reported that around Rs. 24.4 billion has been allocated through various relief programs for those impacted by Cyclone Ditwah. This information was shared during a meeting of the Committee on Public Finance at the Parliamentary Complex, where they discussed the progress of disaster relief for the public in Sri Lanka affected by the cyclone. According to officials, most of the financial aid for cleaning homes, purchasing household goods, and supporting schoolchildren has already been distributed. However, they noted that there have been delays in housing repairs and rental assistance due to necessary processes like assessing damages and identifying land, as stated by the Department of Communication of Parliament. The officials assured the committee that there are verification processes and accountability measures in place. Meanwhile, committee members pointed out the challenges faced by those waiting for relief payments and emphasized the need to speed up housing assistance. Additionally, representatives from the National Insurance Trust Fund (NITF) discussed their financial situation and the reinsurance claims they need to handle after claims were made by general insurance companies following Cyclone Ditwah. The current estimated reinsurance claims owed by NITF stand at about Rs. 11 billion. Although NITF has not sought reinsurance with an international provider since 2023, officials confirmed that they can manage the existing claims.