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 entrepreneurs to be trained in developing businesses under the 'Enterprise Sri Lanka' loan program
Fri, Aug 17, 2018, 09:03 am SL Time, ColomboPage News Desk, Sri Lanka.

Aug 17, Colombo: Sri Lanka's Minister of Finance and Mass Media, Mangala Samaraweera on Thursday chaired a meeting between the Ministry of Finance, the Central Bank and the Heads of Bank of Ceylon, Peoples Bank and the Regional Development Bank to expedite the "Enterprise Sri Lanka" loan program.

Minister of Highways, Higher Education and Investment Promotions, Kabir Hashim, State Minister for Finance, Eran Wickramaratne, Deputy Minister of Finance and Media, Lasantha Alagiyawanna, Secretary to the Treasury Dr. R.H.S. Samaratunga, Governor of the Central Bank Dr. Indrajit Coomaraswamy, the Chairmen of State Banks and other top officials of the three State Banks participated in the meeting.

During the discussions, it was decided to conduct training programs for all new entrepreneurs, district wise, along with the Central Bank officials on how to develop a business plan prior to applying for a loan and to continue assisting them through the loan process.

The Finance Ministry, the Central Bank and the three State Banks also agreed to meet once a month to discuss the progress of the Enterprise Sri Lanka program. A monthly progress report will be submitted to the Ministry of Finance on the disbursement of loans.

It was also decided to revise the loan facilities to accommodate very small-scale businesses and to simplify the registration of businesses through the local authority or the Divisional Secretariat.

Furthermore, a special hotline will also be set up to register any feedback from the loan applicants.

'Enterprise Sri Lanka' loan scheme proposed in the 2018 budget to create entrepreneurs and boost domestic private investment was launched in June this year.

The Enterprise Sri Lanka scheme offers attractive concessionary financing to stimulate investment and expansion by entrepreneurs, SMEs, and even large businesses.

A number of loan schemes with state subsidies will be launched under this program, and the Finance Ministry has given the instructions to relevant banks on implementing the program in cooperation with State and Private Banks, Foreign Financial Cooperative Institutions and other participating institutions.

 

ColomboPage - Recent 10 Stories ::
Sri Lanka's Finance Minister outlines three major policy priorities to rebuild economy
-- [6 hours ago]
Management Faculty of University of Sri Jayewardenepura closed indefinitely
-- [7 hours ago]
Police sub-inspector arrested over Rathgama abductions
-- [7 hours ago]
Navy sailor arrested over abduction and disappearance of 11 youths
-- [8 hours ago]
New software introduced to crack down on illegal activities using fishing boats
-- [9 hours ago]
Sri Lanka maintains policy rates, reduces Statutory Reserve Requirement as economic growth remains below potential
Government takes a revolutionary step in education for a modern Sri Lanka - PM
Sri Lanka Cricket new president Shammi Silva assumes duties
Sri Lanka President says the 'legitimate child' named 19th Amendment has been abused
Sri Lanka nationwide inflation rises to 1.2 percent in January 2019

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.