Sri Lanka Unveils New Relief Measures for Cyclone-Hit Businesses

In response to the devastating impacts of Cyclone Ditwah, Sri Lanka's Ministry of Finance has announced expanded financial relief measures to support affected businesses. The new initiatives include one-time grants and a credit scheme, aimed at helping individual, small, and micro-businesses recover from the disaster, which claimed over 600 lives.

The relief measures follow an initial assessment that revealed significant damage across the country, with floodwaters impacting nearly 20 percent of Sri Lanka's land area and affecting approximately 2.3 million people. In December, the government had reserved LKR 500 billion for immediate recovery efforts, estimating the total cost to range from USD 6-7 billion.

Thursday's announcement provides grants for businesses, whether registered or unregistered, and credits to enable business owners to resume operations. This initiative signifies a significant step in the country’s ongoing recovery and rebuilding efforts after the cyclone, the deadliest disaster since the 2004 tsunami.