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

Leading News from Sri Lanka::

* New loan scheme to motivate women entrepreneurs to start SMEs
Sun, May 13, 2018, 10:55 am SL Time, ColomboPage News Desk, Sri Lanka.

May 13, Colombo: Taking into consideration the importance of motivating women entrepreneurs, a proposal has been made to implement a loan scheme known as 'Women Entrepreneurship Finance Initiative Grant Programme'.

It has been planned to implement the loan scheme under the second phase of the Small and Medium-sized Enterprises Line of Credit Scheme presently in force, utilizing the financial assistance of the Asian Development Bank (ADB) has agreed to provide.

Loans will be provided to the women entrepreneurs who satisfy one of the two conditions and an amount of 20% - 30% of the loan will be given as a non‑repayable grant.

To qualify to receive the assistance, the requested loan should be Rs.750,000 or more and 51% or more of the relevant business institution should be owned by women.

Under the second condition the loan for which the request is made should be Rs.750,000 or more and the following three conditions must be fulfilled; the minimum of 20% of the institution must be owned by women, the Chief Executive Officer or the Chief Operations Officer should be a woman, and the women representation where the Director Boards exist, must be a minimum of 30%.

Accordingly, giving priority to the less developed areas such as Uva, Sabaragamuwa, North and East, the proposal made by the Minister of Finance and Mass Media Mangala Samaraweera to implement the loan scheme through 10 financial institutions island‑wide, was approved by the Cabinet.


ColomboPage - Recent 10 Stories ::
President presents land deeds to 2000 Kurunegala farmers
-- [3 hours ago]
Sri Lanka to host South Asian Youth Summit 2018
-- [4 hours ago]
Sri Lanka will face the global economic crisis successfully - PM
Minister Malik Samarawickrama leads high powered delegation to promote investment and exports in Germany
Sri Lanka's Constitutional Council's term ends
Two suspects including a saffron-robed arrested for attempting to sell a Valampuri conch shell
Sri Lankan President to leave for US today to attend UN General Assembly
Sri Lankan Marine biologist, Asha de Vos Global winner of Study UK Alumni Awards 2018
Sri Lanka Finance Minister says depreciation of rupee not an indicator of fall in economy
Sri Lanka nationwide inflation declines to 2.5 percent in August 2018

Copyright © 2000, 2016 by (LLC) :
The news and other contents on ColomboPage are copyrighted property of, 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, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.