Press briefing of Cabinet Decision taken on 2021-02-01

Continues implementation of the Micro-finance Credit Facility Programme for the debt-ridden people of the Northern and North Central Provinces

- The credit scheme with low interest rate introduced through Co-operative Rural Banks and Thrift & Credit Co-operative Societies, with the intention of getting the rural low income people who have become debt-ridden after obtaining loans from various micro finance credit schemes, out of the debt trap, is presently being implemented by 06 District Secretariats in the Northern and North Central Provinces. Under the said scheme, Rs. 542 million, as Rs. 292 million for Northern Province and Rs. 250 million for North Central Province, has been granted to the beneficiaries to the date and this money is maintained as a revolving fund of the said loan scheme. Accordingly, the proposal made by Hon. Prime Minister in his capacity as the Minister of Finance for continuous implementation of the relevant credit scheme by using the money of the said revolving fund, for the increase of the maximum credit limit granted under the same up to Rs. 100,000/- and for the reduction of the annual interest rate pertaining to the said loans from 9% to 6% in order to provide the debt-ridden people with a relief, was approved by the Cabinet.