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 ::
Local politico, four others arrested for stealing water pumps
-- [4 hours ago]
Sri Lanka Cricket to support ICC match fixing probe
-- [4 hours ago]
Operations of two generators of Sri Lanka's coal power plant halted for maintenance
-- [5 hours ago]
Sports Minister appoints a committee to look into amending the Sports Act
-- [7 hours ago]
President tours flood-hit Chilaw area to observe relief operations
-- [7 hours ago]
Death toll from adverse weather in Sri Lanka rises to 20, over 150,000 affected
-- [8 hours ago]
Retired SC judge to conduct an independent inquiry into match fixing allegations
John Keells PBT increases by 21 percent to Rs. 27.63 billion for FY 2017/18
Government allocates Rs. 69 million to provide relief to people affected by adverse weather
India invites applications for Self-Financing Professional Course

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.