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 ::
Estate sector workers to end strike from today after President's intervention
-- [51 minutes ago]
Railway unions threaten to launch strike on December 26
Sri Lanka's ousted PM challenged in court on his parliamentary membership
Sri Lankan Navy accused of chasing away over 3000 Tamil Nadu fishermen from island waters
Transparency International Sri Lanka calls on Bribery Commission to act on President's Allegations
ComBank Annual Report Best in Banking sector for 14th year
President to open Harvest 2018 agriculture exhibition today
Motion against President's request to rush SC verdict on dissolution of parliament
Abduction case against MP Hirunika Premachandra set for trial in March
Raids on food traders and restaurants during National Food Security Week

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.