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* Sri Lanka launches program to grant concessionary loans to Divineguma beneficiary families
Wed, Aug 27, 2014, 11:38 am SL Time, ColomboPage News Desk, Sri Lanka.

Aug 27, Colombo: The Sri Lankan government will launch a programme to grant loans at concessionary rates of interest to Divineguma beneficiary families to commence self-employment and other activities.

Minister of Economic Development Basil Rajapaksa at a meeting held recently in the Ministry of Finance said the concessionary loan programme was initiated under the guidance of President Mahinda Rajapaksa.

Under the programme Divineguma beneficiary families can obtain loans ranging from Rs. 5,000 to 50,000 at a concessionary rate of 4% interest and it will be possible to obtain loans without security.

The Minister said the credit scheme will be financed from the money deposited by the Divineguma beneficiaries in Divineguma banks. The people who are burdened with heavy debts due to loans obtained from finance companies at higher rates of interest also will be able to obtain loans under this scheme to settle their loans.

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