Press briefing of Cabinet Decision taken on 2016-03-30

Establishment of a National Agricultural Loan Protection Scheme through the National Insurance Trust Fund

- The Proposal made by the Prime Minister, Hon. Ranil Wickremasinghe, in his capacity as the Minister of National Policies and Economic affairs, to launch a National Agricultural Loan Protection Scheme, to provide a safe cover to the farmers and for the banks and financial institutions which are engaged in the provision of agricultural loans, in situations where the farmers run the risk of failing to settle loans they had obtained in the event of a crop failure, due to floods, droughts and other natural disasters and also to extend facilities to enable them to obtain loans, without any problem, for the next season as well, was approved by the Cabinet.