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Message: <blockquote data-quote="Hyaenidae" data-source="post: 31121627" data-attributes="member: 530392">tl;dr : It's funded by the government.Whose fund is the Bandaranaike Fund?The Bandaranaike Fund has provided Rs. 250 million as assistance to support people affected by the disaster.What is the Bandaranaike Fund?It is not a fund owned by any individual or family.The S.W.R.D. Bandaranaike National Memorial Fund is a state-owned fund established under Act No. 2 of 1975.How much wealth does this fund have?The fund holds Rs. 40,000 million (forty billion rupees) in financial assets.How does this fund have such a large amount of wealth?The income generated by the Bandaranaike Memorial International Conference Hall (BMICH) is credited to this fund.In some years, the BMICH has recorded annual earnings exceeding Rs. 4,000 million.BMICH Board of ManagementThe Chairperson is is, by default, the President of Sri Lanka.Other members include:<ul> <li data-xf-list-type="ul">The Leader of the Opposition</li> <li data-xf-list-type="ul">The Chief Justice</li> <li data-xf-list-type="ul">The Auditor General</li> <li data-xf-list-type="ul">One or two members of the Bandaranaike family</li> </ul>So, the governing body of the Bandaranaike Fund—into which BMICH income is transferred—consists of:<ul> <li data-xf-list-type="ul">The President</li> <li data-xf-list-type="ul">The Leader of the Opposition</li> <li data-xf-list-type="ul">The Auditor General</li> <li data-xf-list-type="ul">Several members of the Bandaranaike family</li> </ul>Therefore, the Bandaranaike Fund is entirely a government fund.Any expenditure from the fund requires the approval of its Board of Directors.Thus, this disaster relief payment is a decision made collectively by the President, the Leader of the Opposition, and the rest of the Board.The construction of the Bandaranaike Memorial Conference Hall was completed in 1973, and its income generation began in 1974. To properly manage that income, the fund was established in 1975.<a href="https://x.com/KaviSenu/status/1998303521410596974" target="_blank">Source</a></blockquote>

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