Lost Cause

Sri Lanka as of end-September had utilised less than a tenth of the loans and a quarter of the grants offered by foreign donors since last year’s unprecedented tsunami disaster, a top official said Friday. Sri Lanka as of end-September had utilised less than a tenth of the loans and a quarter of the grants offered by foreign donors since last year’s unprecedented tsunami disaster, a top official said Friday. The director general of state accounts, P. A. Pematilaka, said the government drew only 393.7 million dollars, or 25 percent of the 1,562.9 million dollars pledged for tsunami reconstruction in the medium term.

Out of 700.3 million dollars made available to the country by way of concessionary loans, only 66.66 million dollars, or less than 10 percent of the available funds, had been drawn, he said.

“We are getting figures from all agencies that are involved in tsunami reconstruction and these are the figures we have come up with as at the end of September,” Pematilaka said.

He said the tsunami aid utilisation compared with a 20 percent national average for absorbing overall foreign aid amounting to about a billion dollars annually.

An independent think tank earlier this month ask