Concessional loans for small-scale entrepreneurs in Western Province

A concessional loan scheme intended to facilitate micro and small-scale entrepreneurs in the Western Province has been planned, the Chief Secretary of the Western Province, K.G.P. Pushpakumara said.

He revealed the initiative during the Colombo District Coordination Committee meeting. 

Accordingly, the provincial Chief Secretary stated: 

“A mechanism has been initiated to implement a concessional loan scheme for micro and small-scale entrepreneurs in the Western Province. The interest rate on the loan will be 3%. The maximum loan amount will be Rs. 3 million. The loan must be repaid in 7 years on a diminishing balance basis.”

Furthermore, he added that more information will be provided through the Divisional Secretariats.

Meanwhile, Minister of Transport, Highways, Ports, and Civil Aviation Bimal Rathnayake said that the project to expand and develop the High-Level Road will be initiated next year.