Press briefing of Cabinet Decision taken on 2018-05-15

Granting of loans at a concessionary interest rate for the damaged business properties in the Kandy Administrative District as a result of the conflicts that occurred

- The Cabinet on 2018‑03‑20 granted approval to grant loans at a concessionary interest rate to revive the damaged businesses as a result of the conflicts that occurred in the Kandy administrative district in the first week of March 2018 at a concessionary rate of 2% interest, subject to the relevant conditions and the stipulations of the 'Athwela Loan Scheme'. However, the maximum loan amount granted by the loan scheme is around Rs.500,000/-. When considering the extent of damages caused to the business places the maximum loan amount appears to be inadequate.

Accordingly, the proposal made by Hon. Lakshman Kiriella, the Minister of Public Enterprise & Kandy City Development, to increase the maximum loan amount up to Rs.1 million granted under the 'Athwela Loan Scheme' at a concessionary rate of 2% interest for the business places so damaged, was approved by the Cabinet.