SL loses $380 mln annually from disasters
View(s):Sri Lanka’s annual average cost from natural disasters is US$ 380 million over a period of 15-20 years, a World Bank study on fiscal disaster risk assessment conducted last year, shows.
Official sources also say that according to the post disaster needs assessment conducted by the Ministry of Disaster Management with the help of the UN, World Bank and the EU, the estimated direct damage from May 2016 (year ago) disaster was US$ 572 million (this is excluding economic losses, and informal sector impact).
As per this year’s disaster in May, preliminary damage estimates are in the range of US$ 250 million with a detailed assessment expected to be completed by the end of July, the sources added.