Press briefing of Cabinet Decision taken on 2020-06-10

Increasing the Upper Ceiling of the loan facilities granted under the Smallholder Agribusiness Partnership Programme (4P) and providing Matching Credit and Matching Grant facilities for Agri Value Chain Project Promoters

- The Smallholder Agribusiness Partnerships Programme (SAPP) is implemented for uplifting the living standards of rural small-scale farmers through the funding of the International Fund for Agricultural Development (IFAD) and the Government of Sri Lanka and with a total investment amounts to US$ 105 million. Implemented throughout 06 years, this programme is to be completed on 30th June 2023. The project targeting 57,500 families including 4,000 families in the Mahaweli region implements value chain projects with the assistance of Public Private and Producer Partnership - 4p. Therefore, approval of the Cabinet of Ministers was granted to increase the upper ceiling of the matching credit granted to beneficiaries of the project under this programme from Rs.300,000/- to Rs.500,000/-, as well as to furnish a matching contribution for those project promoters, subject to a maximum of Rs.1.8 million for obtaining equipment or services required for promoting market or enterprise activities and also a matching credit facility, subject to a maximum of Rs.09 million under an annual loan interest of 10% for procurement of machinery.