Former Deputy Leader of the United National Party and Parliamentarian Ravi Karunanayake said that the UNP-led government in 2015 introduced a nationwide natural disaster insurance scheme, which he described as the first of its kind in the world, in response to the increasing impact of natural disasters on the country.
Speaking in Parliament, he said the programme received support from the World Bank and was initiated during his tenure as Minister of Finance.
Ravi Karunanayake noted that Rs. 5,500 million was secured to address the Kolonnawa flood crisis and related disasters, while a further Rs. 6,800 million was obtained through insurance to respond to the major disaster that occurred in 2017.
He said that subsequent governments discontinued the insurance scheme, a decision he believes has had a negative impact on the country. He added that, setting aside political differences, the current government could reintroduce the programme if it so wished.
