Dollar Gush

Chief Regulatory Officer at CSE Renuke Wijayawardhane presenting the listing certificate to Executive Chairperson at Renuka Hotels Shibani Thambiayah

Mar. 20 (LBO) – Non-governmental organisations operating in Sri Lanka’s tsunami-hit regions has received Rs40.1 billion (US$400 million) in aid for reconstruction work last year, the Central Bank said Monday. According to a bank survey, which tracked 256 non-governmental organisations or NGO’s, 79 percent of the funds received had already been withdrawn.

Bulk of the aid money between 1 to 12 percent were however, centred around 30 NGO’s.

“The 30 NGOs referred to above had withdrawn 85 percent of funds received in their bank accounts during the year 2005,” the statement said.

The funds received through NGO’s are on top of the Rs26.6 billion the government and private sector received as donations through the banking system.

Around 31,000 people died and a million were left homeless when giant seismic waves battered the island’s coastline on December 26, 2004.

The loss of infrastructure was estimated at US$900 million and the country’s total reconstruction and rehabilitation needs were placed at US$2.2 billion.

The government has said it received US$3.2 billion in aid pledges by international donors.

However, much of the work remains to be done