Sri Lanka to set up Palmyrah fund for Northern development

ECONOMYNEXT – Sri Lanka will set up a fund for North East development which will be open for contribution from donors and the diaspora, Finance Minister Mangala Samarawera said.

Tamil National Alliance Chief R. Sampathan said he requested a targeted fund because there were a many people in difficulties and widows in the area.

"The farmers and fishermen are in difficulties, and we have to uplift them," Sampanthan said. "I am happy to see Finance Minister Mangala Samaraweera responded to our request."

A law will be introduced in parliament to set up the Palmyrah fund, which will be open for donations, Samaraweera said.

An initial 5 billion rupee seed funding will be provided by the government. (Colombo/Apr05/2019-SB)


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