Lankapage Logo CP 19 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* New secretariat to implement 'Enterprise Sri Lanka' Interest Subsidy Loan Scheme
Sat, Jun 9, 2018, 12:26 pm SL Time, ColomboPage News Desk, Sri Lanka.

June 09, Colombo: The Minister of Finance and Mass Media Mangala Samaraweera has presented a proposal to establish a new Secretariat in the Ministry of Finance and Mass Media to coordinate the activities on the implementation of the 'Enterprise Sri Lanka' Interest Subsidy Loan Scheme.

In accordance with the budget proposals of 2017 and 2018, the 'Enterprise Sri Lanka' Interest Subsidy Loan Scheme is implemented by the Ministry of Finance and Mass Media in collaboration with the state and private banks, foreign financial cooperation institutes and the other participatory institutes.

Through this program it is expected to build a business paradise in Sri Lanka, using the innate entrepreneur expertise of the Sri Lankans, according to the Minister of Finance.

Under the Enterprise Sri Lanka program, concessions are provided under 16 schemes which include 11 interest subsidy loan schemes, 3 refinancing loan schemes inclusive of 2 financial and non‑financial schemes.

Accordingly, funds over Rs.30 billion have been provided by now to around 12,405 entrepreneurs. The Government has set apart Rs.5.25 billion for the year 2018 for the payment of interest subsidies alone in respect of the loan schemes, implemented under the program and the Government expects the generation of 50,000 new employment opportunities, through the creation of a capital of nearly Rs.60 billion.

With a view to popularizing the program further among the general public, it is expected to implement it as a national level promotional program, under the theme '2025 vision' along with the other development programs of the Government once in every three months covering all Provinces of the country in the hope of providing the necessary guidance to expand the products of the entrepreneurs up to the international level.

The proposal put forward by the Minister of Finance Mangala Samaraweera to set up a secretariat in his Ministry received the cabinet approval.

 

ColomboPage - Recent 10 Stories ::
Sri Lankan President calls to form a national movement to form a new government this year
-- [4 hours ago]
Sri Lanka's Prime Minister reiterates pledge to protect Buddhism
-- [4 hours ago]
Maximum retail price for rice from 1st April
-- [5 hours ago]
Decision on PC polls next week, Minister says
-- [5 hours ago]
Sri Lanka Navy's Sayurala takes part in multi-nation naval exercise AMAN-19 in Pakistan
-- [6 hours ago]
Sysco's CAKE Guest Manager seats 200 million guests
-- [6 hours ago]
EC says Sri Lanka lacks proper frameworks in anti-money laundering, counter-terrorist funding
Sri Lanka to promote economic relations with Iran's Yazd province
Sri Lanka Navy, STF thwart illegal migration attempts, arrest 38 suspects
17 youths arrested with drugs on pilgrimage to Sri Pada

Copyright © 2000, 2016 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.