The Cabinet of Ministers has granted approval to a proposal to enter into agreements with the Asian Development Bank (ADB) to obtain $ 3 million for ongoing recovery efforts, within its own Asia Pacific Disaster Response Fund.

The fund, formed by the ADB in 2009, is aimed to provide growth grants for countries requiring life security services, as soon as possible, subsequent to natural calamities including the outbreak of diseases.

Accordingly, the Government of Sri Lanka made a request to the ADB to receive funds required for the emergency response project executed, in light of the disaster that occurred due to cyclone Ditwah.

The ADB has now given its concurrence to provide a grant of $ 3 million under Asia Pacific Disaster Response Fund. Therefore, the Cabinet of Ministers has granted approval to the proposal submitted by the President in his capacity as the Minister of Finance to enter into the relevant agreements with the Asian Development Bank to obtain the grant.