The Rebuilding Sri Lanka Fund, established following the devastation caused by Cyclone Ditwah in late 2025, has now accumulated Rs. 5.7 billion, according to the fund’s Management Committee Convenor G.M.R.D. Aponsu.
“The total amount in the Rebuilding Sri Lanka Fund as of today is Rs. 5.7 billion,” Aponsu said on Friday (9), noting that the figure was updated daily through reports provided by officials responsible for managing the accounts. “This is not a static figure. I receive updated information every day as new donations continue to come in,” he explained.
The fund has attracted criticism over inadequate transparency and audit oversight, and the concerns about it continue to intensify amid an increase in domestic donations.
The fund has become the Government’s primary domestic financing vehicle for post-cyclone recovery and reconstruction, mobilising contributions from State institutions, the security forces, corporate entities, professional bodies, religious organisations, and individual donors, including Sri Lankans overseas and foreign nationals.
While the scale of public response has been widely welcomed, the rapid growth of the fund has also triggered sustained scrutiny over how donations are held, allocated, and ultimately spent.
Governance concerns
Public debate has centred on the governance framework of the Rebuilding Sri Lanka Fund, particularly the appointment of an 11-member Joint Management Committee dominated by senior corporate executives.
Civil society organisations and governance analysts have raised concerns over potential conflicts of interest, the absence of gender diversity, limited regional representation from cyclone-affected areas, and the lack of disaster management specialists within the committee.
Addressing these concerns, Aponsu stressed that the Management Committee did not have authority to allocate or disburse funds and that its role was often misunderstood.
“We do not allocate these funds directly and we do not have any authority to spend money on our own. For any allocation to take place, project proposals must first be prepared by the relevant line ministries. These proposals are then submitted to the Ministry of Finance and the Department of National Planning, which evaluate them and decide on the financing arrangements.”
He emphasised that the Rebuilding Sri Lanka Fund did not operate as an independent or parallel financial mechanism outside the Government’s established public finance framework.
“We do not have a separate mechanism outside the Consolidated Fund,” Aponsu said. “All donations are deposited into Treasury accounts and only the Treasury has the authority to utilise these funds.”
According to Aponsu, this structure ensures that all spending related to the fund is governed by existing financial regulations, including Cabinet approval for large projects and standard public procurement rules.
“Once the money is deposited into Treasury accounts, it is treated exactly like any other public fund. All the same rules apply.”
Treasury accounts and audit assurances
One of the most persistent concerns has been whether the fund’s structure could complicate audit oversight.
Aponsu rejected this assertion, maintaining that auditability was built into the system. “There will be no audit issues,” he said. “These are accounts held by the Deputy Secretary to the Treasury, and all such accounts are subject to audit by the Auditor General.”
He explained that the funds were held at present across eight Treasury-controlled accounts. “There are eight accounts in total,” Aponsu said. “Two accounts are maintained with the People’s Bank and the Bank of Ceylon under the Deputy Secretary to the Treasury, and the remaining six are Deputy Secretary to the Treasury accounts managed through the Central Bank of Sri Lanka (CBSL). We receive regular updates from both the CBSL and the commercial banks, so there is continuous monitoring.”
The assurance that the fund falls squarely within the Treasury system has been echoed by the Auditor General’s Department, though with important clarifications on timing and process.
Auditor General’s Dept. confirms audits
Senior Deputy Auditor General Samudika Jayarathne, who is responsible for auditing the President’s Office and the General Treasury, confirmed that the Rebuilding Sri Lanka Fund would be audited, although no audit had yet commenced.
“Audits will definitely be conducted,” Jayarathne said, responding to questions on transparency and accountability. She clarified that the audit process was governed by statutory timelines rather than the timing of individual donations.
“After the financial year ends, the relevant entity must submit its annual accounts. The deadline for submitting those accounts is 28 February. Once the accounts are submitted, we will begin the audit. There is sufficient time for that process,” she said.
While she said she had not yet reviewed the detailed structure of the fund, Jayarathne was unequivocal on its audit status. “I am not yet familiar with how the fund is structured or which department manages it in detail. But if it is a Government fund, it will absolutely be audited.”
Asked whether any audit activity had already been initiated, she said this was not the case. “Not yet. If necessary, a spot audit could also be initiated, but at this point, there has been no such requirement,” she said.
Scale and sources of contributions
The Rebuilding Sri Lanka Fund has grown rapidly since its establishment. By mid-December 2025, total inflows had exceeded Rs. 3.4 billion. Subsequent donations have pushed the figure to Rs. 5.7 billion as of Friday (9).
Among the largest contributors are State-linked institutions. The Bank of Ceylon donated Rs. 500 million, while the armed forces collectively contributed Rs. 372.7 million, representing one day’s salary from personnel across the Army, Navy, and Air Force.
Corporate donations have also been substantial. A leading private real estate firm pledged Rs. 200 million, while professional bodies such as the Institute of Chartered Accountants of Sri Lanka and associations linked to the gem and jewellery sector contributed significantly too. Foreign nationals have also been among Individual donors.
Religious organisations and donations
Religious and faith-based organisations have played a visible role in supporting post-cyclone recovery, both through direct relief efforts and financial contributions to the central fund.
On 8 January, representatives of the Maha Bodhi Society of India handed over Rs. 10 million at the Presidential Secretariat, stating that the funds were intended to support livelihood restoration in cyclone-affected regions.
Other donations have also attracted public attention, including contributions linked to prominent Buddhist institutions and shrines. This has raised questions about the procedures governing religious donations, particularly where temples and devalayas fall under the purview of the Ministry of Buddhasasana, Religious and Cultural Affairs.
Deputy Minister of Buddhasasana, Religious and Cultural Affairs Gamagedara Dissanayake said that there was no general prohibition on religious organisations making donations to charitable causes such as the Rebuilding Sri Lanka Fund.
“There is no objection to religious organisations making donations to charitable causes that align with their objectives,” he said.
However, he explained that specific procedures applied when institutions fell directly under the ministry’s jurisdiction.“If the donation is related to the purview of the Buddhasasana Ministry, they must obtain prior approval from the Commissioner General of Buddhist Affairs before making a significant contribution,” Dissanayake said.
“Generally, there is no direct requirement for such approval, but the Commissioner General of Buddhist Affairs is subject to audits, and if due diligence is not conducted during these audits, issues may arise.”
He further clarified that Buddhist temples and viharayas under the ministry’s jurisdiction were themselves subject to audit.
“If the religious organisation is a Buddhist temple or viharaya under the ministry, those institutions will also be audited. In most cases, religious establishments maintain their own accounts or conduct internal audits, but they are not required to submit these to the Government, because their affairs are not directly relevant to the Government.”
Dissanayake said that the National Audit Office (NAO) typically did not intervene in the internal affairs of religious organisations unless they fell directly under a ministry.
“The NAO does not concern itself with an organisation’s internal affairs unless it comes directly under the ministry’s jurisdiction. It investigates the financial activities of the Government and Government-associated entities, so religious organisations and charities do not fall under its direct purview,” he said.
Referring to recent donations, Dissanayake noted that several religious contributions had already been made to the fund.
“The Asgiriya Prelate donated Rs. 10 million, in addition to the donation by the Kataragama Devalaya. Different organisations have different procedures, and they may need to conduct internal audits, but that is for them to decide on how to account as long as it is legal.”
He said that where institutions such as the Kataragama Devalaya fell under the ministry, permission had been sought from the Commissioner General of Buddhist Affairs prior to making donations.
Even where donations are made in non-cash forms, Dissanayake said that audit mechanisms remained applicable.
“Even if donations are made in gold, the necessary audits will be conducted to ensure there is no corruption. In the case of the Kataragama Devalaya, they had sought permission from the Commissioner General; as a result, the decisions will be subject to an audit,” he said.
Transparency measures
Responding to questions about whether the funds had been earmarked for specific purposes as a priority, Aponsu said that, at present, all donations were pooled into Treasury accounts without differentiation.
“So far, there have been no project-specific donations. All funds are pooled together. However, once the Department of National Planning identifies and approves projects under the Rebuilding Sri Lanka initiative, we plan to open those projects for public donation. Both domestic and international donors will be able to support specific projects they are interested in,” he said.
He further illustrated the process using a hypothetical example involving the rebuilding of a school. “A project proposal is prepared by the relevant ministry,” he said. “If the cost exceeds Rs. 100 million, Cabinet approval is required, and the Cabinet also decides on the financing structure.”
That structure, he said, often involved multiple sources. “For example, a Rs. 100 million project might include Rs. 50 million from public revenue, Rs. 40 million from a loan or donor grant, and Rs. 10 million from Rebuilding Sri Lanka funds,” Aponsu said.
Once approved, procurement follows established procedures, with periodic progress reporting. “This allows donors and the general public to see how funds are being utilised,” he added.
Int’l context and credibility concerns
The transparency of the Rebuilding Sri Lanka Fund has taken on added significance as Sri Lanka seeks access to international climate-related financing, including assistance from the United Nations. Officials have acknowledged that demonstrable transparency in domestic fund management is a prerequisite for accessing such international support.
International assistance following Cyclone Ditwah has already included an AUD 1 million pledge from Australia, the deployment of an elite rescue team and relief supplies from Pakistan, and emergency assistance from UNESCO, the World Bank, and the International Monetary Fund (IMF), among others.
As Sri Lanka moves from emergency relief to long-term reconstruction, the credibility of the Rebuilding Sri Lanka Fund is expected to hinge not only on the volume of money mobilised, but on how clearly, independently, and publicly its use can be verified through audits, disclosures, and project-level reporting in the months ahead.