Press briefing of Cabinet Decision taken on 2020-02-27

Continuation of the Micro Financing Credit Facility Programme uninterruptedly for indebted people living in the Northern and North Central Provinces

- With a view to reliving the low income earners living in the rural sector from the trap of indebtedness as a result of obtaining loans from the various Micro Finance Companies, a loan scheme has been implemented through the Co‑operative Rural Banks and the Thrift and Credit Co-operative Societies. In order to implement the said loan scheme, a sum of Rs.542 million has been released from the General Treasury, as at present and this loan scheme is being implemented as a revolving fund.
Accordingly, the proposal made by the Hon. Prime Minister in his capacity as the Minister of Finance, Economy and Policy Development, to implement the said loan scheme continuously through the revolving fund to achieve the basic targets of this project and to increase the present maximum credit limit granted under such programme up to Rs.60,000 per person, was approved by the Cabinet.