- Last Update 2025-04-29 11:43:00
Palmyrah Fund launched for North, East development
The 'Palmyrah Fund' intended to provide funding for the development of the North and the East, was established under the auspicies of the Prime Minister at Temple Trees today (May 27).
According to the Prime Minister's Office, the fund is expected to contribute towards expediting the development of areas in the Northern and Eastern Provinces which were affected by the war.
The fund is expected to disburse Rs 5 billion within two years for the construction of roads, bridges, drainage systems, and even anchorages across these areas, the Prime Minister's office said.
In addition, the necessary infrastructure concerning the Agriculture, and Industrial sectors is also to be developed via the Palmyrah Fund
Finance Minister Mangala Samaraweera, Tamil National Alliance parliamentarian R. Sampanthan, and MP D. Siddharthan were among those preset at today's event.
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