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Press briefing of Cabinet Decision taken on 2017-10-31
Further expanding of the Small and Medium-Sized Enterprises Line of Credit Project
- The Asian Development Bank (ADB) has provided funds amounting to US$ 100 million for the implementation of a Line of Credit Project for the purpose of upgrading the Small and Medium-Sized Enterprises in Sri Lanka. Given the excessive demand for this loan scheme, it is anticipated that it will be possible to grant concessionary loans to Small and Medium-Size Entrepreneurs utilizing the fund in full, before completion of the period of the proposed project.

Accordingly, the proposal made by Hon. Ranil Wickremasinghe, the Prime Minister in his capacity as the Minister of National Policies and Economic Affairs, to conduct negotiations with the Asian Development Bank to secure an additional fund of US$ 75 million to enable to grant concessionary loans to a larger number of beneficiaries by further expanding the proposed loan scheme, was approved by the Cabinet.