Overview

Sri Lanka’s ongoing economic crisis is deepening poverty and putting further financial pressure on the most vulnerable groups. Climate change is increasing the stress in both rural and urban areas, as drought and tsunamis become more frequent. Greater financial protection is needed for those most affected.

UNDP’s Insurance and Risk Finance Facility is working with industry partners to build financial resilience for women and small businesses through targeted insurance development.

Main Natural Hazards

Tsunami, Drought

1
1 Source:
https://drmkc.jrc.ec.europa.eu/inform-index/INFORM-Risk/Country-Risk-Profile
Insurance penetration

1.1% (2022)

1
1 Source:
https://ircsl.gov.lk/wp-content/uploads/2023/09/Statistical-Review-2022-final-15-09-2023.pdf
Number of insurance providers

29 insurance companies

1
1 Source:
https://ircsl.gov.lk/insurance-companies/
% Workforce engaged in agriculture

26% (2022)

1
1 Source:
https://data.worldbank.org/indicator/SL.AGR.EMPL.ZS
Multidimensional poverty

2.9% (2016)

1
1 Source:
https://hdr.undp.org/system/files/documents/hdp-document/2023mpireporten.pdf
% of population covered by inclusive insurance products

0%

1
1 Source:

Source: The Microinsurance Network, Landscape of Microinsurance 2023, Based on target population estimate for Sri Lanka of 20,670,326 people

https://microinsurancenetwork.org/resources/the-landscape-of-microinsurance-2023
Biodiversity ranking

#60 out of 239 countries and territories (2023)

1
1 Source:
https://worldrainforests.com/03highest_biodiversity.htm
Small business % contribution to workforce

45% of total employment (2020)

1
1 Source:
https://sustainabledevelopment.un.org/content/documents/26277Report_The_Impact_of_COVID19_to_MSME_sector_in_Sri_Lanka.pdf

Our projects

Women buying tea