Foreign employment insurance compensation increased to Rs.2mn

By Chaturanga Pradeep Samarawickrama

The insurance compensation paid to a worker employed abroad, in the event of death while on duty, has been increased to Rs.2 million, the Sri Lanka Bureau of Foreign Employment (SLBFE) announced.

SLBFE Chairman Kosala Wickramasinghe said at a special media briefing that until now, the compensation stood at Rs.600,000 but with an additional Rs.1.4 million, the total amount has now been raised to Rs.2 million.

Meanwhile, the SLBFE has also launched a loan scheme for the spouses of overseas workers in Sri Lanka, to help them start businesses. 

In addition, the scholarship amount provided to the children of migrant workers is set to be increased and laptops will be given to those pursuing higher education.

For the January to August 2025 period, Sri Lanka received US $ 5,116.0 million in total remittances, compared to US $ 4,288.2 million received in the same period in 2024.

In August alone, Sri Lanka received US $ 680.8 million, as compared to US $ 577.5 million received in the same month a year ago, logging a solid 17.9 percent growth between the two periods.

Wickramasinghe added that 226,240 Sri Lankans are currently employed abroad and the number is expected to reach 300,000 by the end of the year.