Press briefing of Cabinet Decision taken on 2024-01-29 (Subject to Confirmation at the next Meeting)

Commencing the Operations of the National Credit Guarantee Institution

- The Cabinet has granted its approval on 2021‑04‑27 to establish the National Credit Guarantee Institution with a view to providing relief measures for small and medium scale enterprises. As of now, the said institution has been incorporated as a public limited company and measures are being taken to obtain an amount of US$ 50 million from the Asian Development Bank as its initial capital. As such, the proposal made by the Hon. President in his capacity as the Minister of Finance, Economic Stabilization and National Policies to commence the operations of the National Credit Guarantee Institution, was approved by the Cabinet.