The Agricultural and Agrarian Insurance Board announced that compensation for crop damage caused by floods, droughts, and wild elephant attacks during the 2024 ‘Yala’ season will be fully disbursed by January 5, 2025.
Issuing a statement, the Agricultural and Agrarian Insurance Board noted that between March and October 2024, significant damage was reported to paddy fields and other crops across the country and that natural disasters such as droughts and floods, as well as incidents involving wild elephants, were cited as the primary causes of these losses.
To date, compensation totaling nearly Rs. 80 million has been disbursed to 80% of affected farmers, the statement added.
Furthermore, the Agricultural and Agrarian Insurance Board confirmed that all remaining payments would be credited directly to farmers’ bank accounts by the January deadline.
Additionally, it added that arrangements are underway to compensate farmers for crop damage incurred during the 2024/2025 ‘Maha’ season, with payments expected to commence early next month.
