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Only 20 percent of grants and loans to rebuild after the Tsunami have been used by the government in the first year after the disaster. It would take five and not three years to complete the tsunami related reconstruction, at the current rate of utilization.
Government has set itself a target of finishing the work in three years.
Tsunami aid use at 20 percent is much faster than Sri Lanka’s national aid utilization.
But at the current rate it would take five years to complete reconstruction of houses, roads and schools.
Government says it expects to spend bulk of the money 80 percent of the unspent money next year.
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Government is currently sitting on an unspent US$ 1.1 billion in grants and over US$ 600 million in concessional loans.
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These sums don’t include the planned 800 million or so planned spend by the NGO’s mainly in the area of building new houses and buying fishing boats for people who lost theirs during the Tsunami.
Spending all the money in a year was never