State banks to disburse housing grants

Supporting the government efforts to re-build the nation, the People's Bank and Bank of Ceylon have taken on the giant task of facilitating the disbursement of the housing grants to the tsunami affected for the purpose of rebuilding their lives.

The two banks will issue and also accept applications from individuals and families who were affected by this disaster. This grant will be provided for the purpose of repairing or rebuilding tsunami destroyed houses outside the buffer zone.

Under this program, families whose homes have been partially damaged will be provided with a grant of Rs. 100,000 to expedite the reconstruction process while a grant of Rs. 250,000 will be provided for the reconstruction of totally destroyed houses. This program will help address the housing issues escalated by the recent tsunami catastrophe.

According to the estimates, over 100,000 houses have been fully destroyed or partially damaged in the disaster.