Stories of impact: Addressing climate risks in Sri Lanka
This issue illustrates the lessons learnt, results and achievements of Sri Lanka’s "Comprehensive Approach to Climate Risk Management" program, including an investment program that addresses short-term, long-term and fiscal risk, with World Bank and GFDRR support. The program is an effort to reduce the adverse impacts of flood and drought and adapt the country’s stock of infrastructure to extreme climate shocks. Lessons learnt include: Linking risk identification studies with immediate risk reduction investments can significantly enhance the added value of a program and mitigate future risk; Comprehensive programs can act as catalysts for reforms.
Technical assistance from GFDRR and the World Bank informed recent steps to enhance Sri Lanka’s disaster resilience, including a $110 million investment towards reducing immediate and future physical risks as well as provisions for accessing $102 million in the immediate aftermath of a natural disaster.
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