AreaSri Lanka

Commodity GroupRice

CommodityAll

Date30/08/2022

Policy CategoryProduction

Policy InstrumentBudgetary allocations, production support

DescriptionAs part of its Interim Budget allocations, announced it would take steps to write-off LKR 688 million (USD 1.9 million) worth of outstanding loans issued by public banks to 28 259 paddy farmers cultivating 2 ha, or less. A sum of LKR 350 (USD 1.0) million would be allocated for the purpose. Among other measures, a separate LKR 400 (USD 1.1) million would be destined to the Department of Agriculture to source seeds and planting materials for farmers, with LKR 110 (USD 0.3) million from a World Bank loan facility also set aside to import urea for the 2023 Maha crop.

NotesExchange rate as of 15 October 2022.