Press briefing of Cabinet Decision taken on 2021-08-09

Implementation of Working Capital Loan Scheme under concessionary terms for re-energizing Public Enterprises

- Operations of around 282 fully or partially public owned enterprises which are now in operation, have been suffered a setback due to the improper function of the market mechanism in consequence of Covid - 19 pandemic situation. Due to that reason, it has become difficult securing working capital required to run their day-to-day business activities. With the spread of Covid - 19 pandemic across the country at the end of the year 2020, the concessionary loan scheme named “Saubhagya Covid-19 Renaissance Facility” was implemented under the supervision of the Central Bank of Sri Lanka to meet the working capital requirement of small and medium scale enterprise sector and under the said scheme, approximately Rs. 156 billion has been granted to around 53,200 entrepreneurs by now. Accordingly, the proposal made by the Minister of Finance to make arrangements to secure working capital requirement of the public enterprises through the said loan scheme, was approved by the Cabinet.