Apr 19, Colombo: Sri Lanka’s Central Bank has introduced a new refinance facility for the businesses adversely affected by the COVID-19 pandemic.

The Central Bank announced that having identified the national importance of reviving the businesses adversely affected by the COVID-19 outbreak in order to contain the hampering of living conditions of the Sri Lankans and the economic growth of the country as a whole, the Bank under the instructions of the Government has introduced 'Saubagya COVID-19 Renaissance Facility' under the Saubagya (Prosperity) Loan Scheme.

The 'Saubagya COVID-19 Renaissance Facility is implemented by the Regional Development Department of the Central Bank of Sri Lanka covering all licensed banks in the island.

The maximum loan limit is two months working capital requirement at an interest rate of 4% per annum. The borrowers will have a maximum duration of 24 months including the 6-month grace period to repay the loan.

More information of the loan facility can be obtained by calling the Director, Department of Regional Development, Central Bank of Sri Lanka, at 011 2477447, 011 2477438, 011 2477434, 011 2477348, 011 2477113, 011 2477015 Fax: 011 2477734 or e-mail: director_rdd@cbsl.lk