The Agriculture and Agrarian Insurance Board has paid Rs.550 million as compensation for paddy farmers who faced losses due to this year's prolonged drought.
The Ministry of Agriculture and Plantation Industries said the Board is currently in the process of awarding compensation for crop damage that occurred during the 2023 yala season.
The Ministry said compensation has been paid for farmers from the Walawe zone and Hambantota and by the end of this year, all affected paddy farmers will be compensated.
According to estimates made regarding crop damage in the yala season, about 65,000 acres were damaged due to the drought and 11,000 acres were damaged due to the floods caused by rains that followed.
"Generally, it takes about a year to provide crop damage compensation. President Ranil Wickremesinghe as the Minister of Finance instructed to release financial allocations for affected farmers without delay," said Minister of Agriculture Mahinda Amaraweera.
He said this year will record the highest amount of compensation paid so far for crop damage in history.
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