Introduction

Commencement

The Farmer’s Trust Fund was established on 09^th March 1994 through a Deed of Trust signed on behalf of the Government by the Secretary, Ministry of Finance and on behalf of the fund by a panel of officials consisting of the Secretary of the Ministry of Agriculture, State Secretary of the same Ministry, the Secretary, Ministry of Agricultural Production and Marketing, Commissioner of Agrarian Development and Deputy Secretary to the Treasury.

Implementing Methodology

Projects are implemented following the approval for each year through Board of Directors which consists of the following officials;

• Chairman – Secretary to the Ministry of Agriculture
• Member – Commissioner General – Agrarian Development
• Member – Chief Accountant, Ministry of Agriculture
• Member – Special Representative of the Treasury

Staff of the fund

• Secretary, Farmer’s Trust Fund
• Accountant, Farmer’s Trust Fund
• A staff consisting of four Management Assistants

Main sources of income of the fund

As mentioned in the Trust Deed the main source of income is a percentage of 10% from proceeds of sale of Govisetha Lottery which should be decided by discussing with the National Lotteries Board from time to time.

Govisetha Lottery

As per section 17 (2) of the Financial Act No. 11 of 1963, approval of the Cabinet has been granted – vide CP No. 95/1317/105/081 on Govisetha Lottery crediting sale proceeds to the Consolidated Fund. A percentage of 10% from proceeds of sale is credited to the General Treasury and monthly updated chart of which is attached.

Future Targets and Objectives

Mission

To prepare the necessary background for agricultural development and welfare of the small farmers and building self-sufficient Sri Lanka in Agriculture through active contribution of small farmer community.

Objectives

As per Trust Deed – 1994 and widening of objectives of the FTF by submitting a Cabinet Memorandum in 2002 its objectives are as follows;

• Agriculture development and welfare of the farmer community in Sri Lanka.
• Provisions of Short – Term loans to small farmers.
• Provisions of agricultural input to small farmers.
• Provisions of marketing loans to small farmers to overcome their financial difficulties.
• Implementation of programmes for agriculture development of small farmers and education programmes.
• Providing small famers with other kind of patronage in respect of crops and animal production and processing.
• Facilitating for agricultural development and implementing special agricultural development programmes.