Govt. to implement interest subsidy scheme for minor and small-scale farmers annually

The Cabinet of Ministers has granted approval to implement “Sarusara,” interest subsidy scheme as an annual program from the year 2025. 

“Sarusara,” the new Sapiri Rural Credit Scheme, has been introduced to fulfill the requirement of working capital of minor and small-scale farmers who are engaged in farming short-term crops and gardening, and this program has been implemented by the Department of Rural Development of the Central Bank of Sri Lanka from the year 2020 to date. 

As per the provisions of the new Central Bank Act passed by the parliament, the Central Bank of Sri Lanka (CBSL) has not been able to implement such a concessionary loan scheme.

Accordingly, the Cabinet of Ministers has approved the proposal presented by the president, in his capacity as the Minister of Finance, Planning, and Economic Development, to implement “Sarusara,” a new Sapiri Rural Credit Scheme through the Department of Development Finance of the General Treasury as an annual program from the year 2025.