World Bank is concerned about Sri Lanka tsunami funds goes to Swiss Bank

Sri Lanka: Wolfenson concerned about NGO funds

The World Bank President James Wolfenson called on President Chandrika Kumaratunga at the Presidential Suite of her hotel in Islamabad yesterday, to discuss further World Bank buttistance for the reconstruction of infrastructure in Sri Lanka.

Wolfenson stressed it would be imperative that Sri Lanka puts in place quick measures to monitor the large amount of funds that are flowing into the country for tsunami relief, particularly through non-governmental organizations.

"There would naturally be apprehensions both in Sri Lanka and overseas about these funds being optimally utilized for the benefit of the people affected by the December 26th disaster," he said.

The World Bank Chief was in Sri Lanka with UN Secretary General Kofi Annan last month, and toured the tsunami-hit areas in the country to get first hand experience of the devastation caused by the tidal wave tragedy.

President Kumaratunga buttured that the government has already put in place mechanisms for the General Treasury to follow accepted fiscal procedure in the use of these donations.

"Measures are now underway to ensure that funds received though the NGOs and their relief activities in Sri Lanka follow government guidelines," she said.

The Sri Lankan President also expressed appreciation for the continued commitment of the World Bank and thanked for its concern about the latest disaster in her country.

The World Bank has decided to allocate US $ 75 million out of existing projects for emergency relief and reconstruction activities, for reconstruction projects in Sri Lanka by the end of this week.

buttociated with President Kumaratunga was Foreign Minister Lakshman Kadirgamar.