Lankapage Logo CP 22 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka Central Bank introduces priority sector lending targets for licensed banks to grant loans to MSME sector
Wed, Apr 21, 2021, 09:45 pm SL Time, ColomboPage News Desk, Sri Lanka.

Apr 21, Colombo: Having recognized the need to promote economic sectors with high potential in terms of domestic economic growth and export earnings, leading to the broad-based revival of the economy, the Central Bank of Sri Lanka (CBSL) has introduced priority sector lending targets on credit granted by licensed commercial banks and licensed specialized banks to individuals and businesses in the Micro, Small and Medium Enterprises (MSME) sector.

Accordingly, Licensed banks shall grant credit to individuals and businesses in Lending Target MSME sector and ensure a growth rate of not less than 20 percent per annum on Y-o-Y basis, over the outstanding stock of lending to MSMEs at the end of the previous year, Monetary Law Act Order No. 1 of 2021 issued Wednesday said.

The lending target shall be prioritized in the following economic sub-sectors that display higher potential in terms of domestic growth and export earnings within the broader MSME sector, but shall not be restricted to the said sectors:

(1) Food and beverage processing
(ii) Production of medical utilities and related products
(iii) Development of distance learning facilities
(iv) Domestic cottage industry
(v) Rubber and rubber products
(vi) Ship and boat building
(vii) Cosmetics
(viii) Batik and handloom
(ix) Gem and Jewellery
(x) Health and wellness
(xi) | Electronics and electrical components
(xii) Motor vehicle assembly
(xiii) Pharmaceutical manufacturing
(xiv) Porcelain, ceramics, and pottery

Full Report

 

ColomboPage - Recent 10 Stories ::
SLC to take legal action against three individuals making false and malicious statement
-- [6 hours ago]
Supreme Court issues notices to five people including former President Mahinda Rajapaksa
-- [7 hours ago]
FAO and UNODC enhance access to skill development in correctional facilities in Sri Lanka
-- [7 hours ago]
SJB leaders issued notice to appear in Court in January
-- [7 hours ago]
Sathosa reduces prices of three essential items
-- [8 hours ago]
COPE exposes many administrative concerns pertaining to the Sri Lanka Foreign Employment Bureau
-- [8 hours ago]
TISL Launches “Integrity Icon Sri Lanka 2022/23” to name and fame honest public officials
-- [8 hours ago]
Parliamentary Caucus for Children to intervene to bring new legislation to protect children’s rights
-- [9 hours ago]
President’s Climate Prosperity Plan identifies climate issues that would affect the country
Sri Lanka President says today’s warfare not between armies, but economic & technological

Copyright © 2000, 2020 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.