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Serving Sri Lanka

This web log is a news and views blog. The primary aim is to provide an avenue for the expression and collection of ideas on sustainable, fair, and just, grassroot level development. Some of the topics that the blog will specifically address are: poverty reduction, rural development, educational issues, social empowerment, post-Tsunami relief and reconstruction, livelihood development, environmental conservation and bio-diversity. 

Sunday, April 09, 2006

CB sheds light on what happened to Rs. 40 b private tsunami relief donations

Daily Mirror: 21/03/2006" Says 80% of the funds have been withdrawn from bank accounts by 256 NGOs

Central Bank yesterday shed some light to the main question of what happened to the billions of rupees Sri Lanka received via private donations for tsunami relief and rehabilitation work.

The Central Bank has been publishing information relating to foreign remittances received for Tsunami relief activities by the Government and private sector through the banking system.

As reported by banks, these foreign remittances stood at Rs. 26.6 bn as at end of January 2006. With a view to expanding this information base, the Central Bank conducted a survey of all bank transactions of NGOs (local and foreign) for the year 2005.Central Bank said according to the survey, 256 NGOs had received donations and other funds amounting to Rs. 40.1 bn by way of credits to their bank accounts from various foreign and local sources during 2005.

The survey revealed that 73% of total foreign remittances were received by 30 NGOs, each receiving foreign remittances in the range of 1% to 12% of total foreign remittances. Further, it was revealed that nearly 79% of funds received in the bank accounts of all NGOs during 2005 had been withdrawn. The 30 NGOs referred to above had withdrawn 85% of funds received in their bank accounts during the year 2005.


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