Tropical storm ‘Roanu’ cause US$570mn damage in Sri Lanka

ECONOMYNEXT – Tropical storm ‘Roanu’, which triggered floods and landslides in Sri Lanka, had caused at least $570 million of damage and left 96 people dead, a lending agency said.

Preliminary findings of a Post Disaster Needs Assessment (PDNA) conducted by the government, with the support of the United Nations and the World Bank, showed total damages and losses over $570 million, the World Bank said.

The lender had given $101 million to Sri Lanka after the disaster, and said it was giving another $42 million to build flood control infrastructure.

Sri Lanka’s Finance Minister Ravi Karunanayake estimated in May 2016 that losses could be around $1.7 billion based on damaged and partially damaged houses reported at the time.

About Rs15 billion ($100 million) may be covered by insurance, he said.

Over 90 people died, mainly in landsides.

Several factories and warehouses were also flooded. (Colombo/Sept06/2016)