Press briefing of Cabinet Decision taken on 2021-02-08

The Project to provide financial facilities for the sectors mostly affected by the COVID -19 pandemic

- A project has been designed to implement with the participation of the Bank of Ceylon and the Peoples' Bank under the COVID-19 Emergency and Crisis Response Facility of the Asian Infrastructure Investment Bank with the objective of providing required funds for the mostly affected sectors by the COVID - 19 pandemic such as tourism, textile, construction, trade, manufacturing, agricultural exports and health care. The proposed project will assist to increase the liquidity support for the small and medium scale enterprises of those sectors. Under the said project, two credit facilities of US$ 90 million each will be granted for the Bank of Ceylon and the Peoples' Bank and the said two banks will grant sub-loans to their clients. Therefore, the proposal made by the Prime Minister in his capacity as the Minister of Finance to take necessary action to implement the said project including the entering into relevant agreements, was approved by the Cabinet.