Central Bank survey reveals: 256 NGOs got tsunami relief funds totalling Rs. 26.6 bn

COLOMBO: In a survey carried out by the Central Bank 256 Non-Governmental Organisations (NGOs) have received funds through banks for tsunami relief measures in 2005.

The Central Bank Supervision Department's statement on the tsunami funds received by the NGOs states:

'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.

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Further, it was revealed that nearly 79% of funds received in the bank accounts of all NGOs during 2005 had been withdrawn. The 30 NGOs referred to above had withdrawn 85% of funds received in their bank accounts during the year 2005'.