The Government of Iceland has allocated a total of 150 million Icelandic krona (2.5 million USD) for humanitarian and reconstruction assistance for victims of the tsunami. Non-government assistance collected stands at 110 million Icelandic krona (1.74 million USD).
- 40 million Icelandic krona (approx. 660,000 USD) for emergency assistance in Sri Lanka split between the World Food Programme, UNICEF, the Icelandic Red Cross, Icelandic Church Aid and Save the Children - Iceland.
- The Icelandic International Development Agency (ICEIDA), which is responsible for Iceland's bilateral development assistance received the remaining 50 million krona (830,000 USD), for reconstruction efforts in Sri Lanka. This is additional to the 25 million Icelandic krona already allocated for ICEIDA´s development work in Sri Lanka in 2005.
- On 2 January the Government of Iceland provided an aircraft, aircraft personnel and medical staff to assist the transportation of 38 Swedish citizens, severely injured in the disaster, from Thailand to Sweden. The estimated cost of the operation was 35 million Icelandic krona (approx. 580,000 USD).
- Icelandic non-governmental organizations, most notably the Icelandic Red Cross, have collected an unprecedented 90 million Icelandic krona (approx. 1.424 million USD) in donations. The donations have come both from public and private sources, with contributories ranging from individuals, to large businesses, to municipalities.
- Icelandic non-governmental organizations, let by the Icelandic Red Cross, will conduct a coordinated aid appeal this coming weekend (15-16 January). This will be the largest aid appeal to have taken place in Iceland to date.
- Icelandic businesses have donated various produce, such as water and canvas, for relief efforts. Moreover, the Icelandic pharmaceutical company, Actavis, has donated much needed medicine, worth over 20 million Icelandic krona (approx. 330,000 USD).