The Sri Lanka government will be strengthening the process with regard to climate resilience, mitigate flood risks and conservation of environment with World Bank assistance, officials said.
The World Bank recently approved a US$ 310 million loan to reduce and mitigate flood risks in the lower Kelani basin in Colombo and improve weather forecasting and early warning systems across Sri Lanka. The Climate Resilience Multi-Phase Programmatic Approach project is the first of a three-phase investment program totaling US$ 774 million and to be implemented over 8 years.
Sri Lanka ranked second among countries most affected by extreme weather conditions in 2017 and is expected to see a 1.2 percent annual GDP loss by 2050 due to climate change, officials said.
Floods impacted around 14 million people between 2010 and 2018 and droughts affected about 12 million people, official data showed. Evidence suggests flood frequency will increase and that nearly 87 percent of Sri Lankans are living in areas likely to experience extreme temperatures and rainfall that will impact their lives, they said.
This comprehensive climate resilience program will reduce losses to people’s livelihoods and public assets while reducing shocks on the economy,” said Idah Z. Pswarayi-Riddihough, World Bank County Director for Sri Lanka. The programme aligns with the government's plans to ensure fiscal and physical resilience and reduce the vulnerability of Sri Lanka’s economy in the aftermath of the 2016 and 2017 floods.
The new forecasting systems are expected to benefit the entire nation, including 3.5 million beneficiaries living in flood-prone areas in 25 river basins.
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