Banks mooting plans for fund to meet immediate rebuilding needs

The Banking sector is mooting plans for a fund to meet immediate rebuilding needs in the hotel sector in the tidal wave affected south and east of Sri Lanka. The Banking sector is mooting plans for a fund to meet immediate rebuilding needs in the hotel sector in the tidal wave affected south and east of Sri Lanka. Assistance schemes for the fishing and agriculture sectors severely affected by Sunday’s tsunami are also being considered.

Sri Lanka Bankers Association says the issue is still under consideration, but was determined to mobilize financial support for the sectors.

Meanwhile, the Association said its members had committed to reopen all branches in the coastal areas, beginning basic banking facilities from Wednesday with offices in worst affected Galle town due to open later in the week.

Entire bank branches have reportedly been washed off.

Officials say the entire branch network on the coastal belt was however online, saving transaction records even in the worst affected regions.

The Association says the Banks would run on generator power, with power supply cut off to most of the branches.

There is no count of the