Pouring Dollars

International donors pledged over US$ 4 bn by way of aid at the Tokyo Conference on Reconstruction and Development of Sri Lanka, which opened on Monday morning.
Japan, Sri Lankas largest donor opened the floor by pledging a US$ 1 bn to rebuild the economy.rn

rnAsian Development Banks President, Tadao Chino offered another US$ 1 bn up to four-years to support the countrys peace efforts.rn

rnFurther contributions came from the European Union (US$ 290 mn over a three-year period) and the United States, which committed US$ 54 mn.rn

rnPrior to the start of the conference, the World Bank had pledged around US$ 800 mn to be spent over a four-year period.rn

rnThe assistance, which comes in the form of loans and grants, is a significant increase over past support and will focus on reconstruction and development throughout the island.rn

rnA comprehensive assessment report of the needs of Sri Lankas conflict-affected areas endash a collaborative effort between ADB, the World Bank and the United Nations