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State
banks lend helping hand to affected customers It is reported that some 800,000 people lost their incomes after the sea invasion. Some 403,000 had their livelihoods destroyed (about 270,000 of them in the informal sector) and another 400,000 lost nearly all sources of income. It is estimated that US $ 85-100 million will be needed for social assistance programmes are to maintain an income level at the food poverty line. The government relief package for recovery and re commencement of daily life include a grant of Rs. 5, 000 for a family as a start up allowance and fresh seed capital for small businesses, trading, fishing etc. Partly damaged houses located in safe areas will be rebuilt with government financial assistance and telephone and water bills will be written off. Affected persons will also be given a cash grant to purchase household equipment and school children will be given free books, uniform materials, shoes etc and an allowance for a food basket for affected families during the recovery period. A total of US $ 275 million is estimated to be the cost for several projects to be carried out by five financial institutions to aid the tsunami victims. The projects to be carried out by five financial institutions namely the People's Bank, Bank of Ceylon, National Savings Bank (NSB), State Mortgage Bank (SMB) and the Insurance Board of Sri Lanka will include a large number of benefits to the victims of the December 26 disaster. The People's Bank project the which is expected to cost approximately US $ 31 million will give its customers who have obtained loans a six month's grace period or complete waiver of the interest on pawning, full redemption without interest for customers who have taken loans, six month moratorium on payment of loan interests and facilitate the commencement of debt servicing. The Bank of Ceylon project estimated to cost US $ 62 million, the NSB project estimated to cost US $ 101 million and the SMB project estimated to cost US $ 11 million will also offer similar services to it's customers. The Insurance Board of Sri Lanka with its project estimated at US $ 70 million will provide money for payment to insurance companies settling claims ex-gratia for the vehicles and properties damaged by the tsunami and to those not insured against earthquakes. |
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