Lankapage Logo CP 21 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to

Leading News from Sri Lanka::

* Central Bank approved Rs. 178 billion loans to COVID-19 affected businesses
Fri, Oct 16, 2020, 08:04 pm SL Time, ColomboPage News Desk, Sri Lanka.

Oct 16, Colombo: The Central Bank of Sri Lanka, as of 15th October 2020, has approved 61,907 loan applications received from COVID-19 affected businesses.

These applications were for a total of Rs. 177,954 million and registered under the three Phases of the Saubagya COVID-19 Renaissance Facility.

So far, the Licensed Banks have released loans amounting to Rs. 133,192 million among 45,582 affected businesses island-wide (See Table 1 for details).

Phase I of the Loan Scheme was implemented with effect from 1st April 2020. Both Phase II and III of the Loan Scheme were introduced with effect from 1st July 2020. The intension of these schemes was to provide a total of Rs. 150 billion as working capital loans at interest rate of 4 per cent per annum.

These loans enjoyed a repayment period of 24-months, including a grace period of 6-months. The recipients were the businesses, including self-employment and individuals, adversely affected by the COVID-19 outbreak.

In view of the large number of requests received from the affected businesses, the Central Bank of Sri Lanka decided to accept applications regardless of the Rs.150 billion limit originally envisaged. All applications of the affected businesses received up to the announced deadline were therefore, served through the Loan Scheme.


ColomboPage - Recent 10 Stories ::
Over 450 people who left the Western Province before the curfew quarantined
-- [6 hours ago]
Activities of the Government Information Department are functioning without any hindrance
-- [6 hours ago]
Coronavirus update: 239 new COVID-19 cases identified Saturday, total rises to 10,663
-- [6 hours ago]
Study finds COVID-19 virus strain currently spreading in Sri Lanka highly transmissible
-- [6 hours ago]
Construction of Neluwa - Lankagama road in Sinharaja nearing completion
-- [8 hours ago]
Pregnant mothers advised to visit nearest hospital for medical treatment, if needed
-- [8 hours ago]
Curfew update: Quarantine curfew in 117 police divisions
-- [9 hours ago]
39 arrested for not using masks and not keeping distance
Colombo Port operations continue without any hindrance, Chairman affirms
Prime Minister appoints two advisers on Hindu religious affairs

Copyright © 2000, 2020 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.