Press briefing of Cabinet Decision taken on 2016-03-23

Loan scheme for Small and Medium Size Enterprises of Sri Lanka implemented under the Financial Assistance from the Asian Development Bank (ADB)

- A loan agreement was signed between the Ministry of Finance and the Asian Development Bank to obtain a loan of US$ 100 million, with the objective of strengthening the entrepreneurs of the local small and medium-sized Enterprise Sector, by assisting them financially. Under this scheme, loans will be offered to commence a business or to expand the existing business, subject to a maximum Rs.50 million and a 10 year recovery period. Accordingly, the proposal made by Hon. Ravi Karunanayake, the Minister of Finance, to implement the loan scheme and to enter into loan agreements with the Participatory Financial Institutions, was approved by the Cabinet.