The Central Bank in collaboration with its Regional Development Department has introduced measures to support small, medium scale entrepreneurs across the country by way of facilitating loans up to an amount of Rs. 25 million with lower interest rates, under the ‘Saubhagya’ loan scheme.
Accordingly, small and medium scale entrepreneurs, engaged in the field of Agriculture, Animal husbandry, Fisheries and many other sectors are eligible to apply for a loan up to an amount of Rs. 25 million under the Saubhagya loan scheme from any registered bank in the country at an annual interest rate of 9 per cent for a tenure of 5 years.
In addition to providing loan facilities, the Central Bank has come up with various initiatives by organizing technical assistance and capacity development programmes for the SME sector, as well as creating much needed business links with prospective overseas buyers.
The Regional Development Department in collaboration with regional branches of the Central Bank has introduced the ‘Green Village Concept’ to promote green societies and sustainable economic activities. Under the said concept, the Central Bank also intends to encourage citizens to move toward alternative capital raising strategies rather than depending on traditional to obtain loans.
With the implementation of these measures, the Central Bank intends to encourage the general public to conduct their business activities via an organized financial system.To this end, in addition to facilitating loans, the Central Bank conducts both physical and virtual workshops for small and medium scale entrepreneurs on financial literacy ,digital financing, customer protection etc.
by Daily News Sri Lanka
, Local, ,