Interest-free loans for small-scale tourism businesses
May 30, 2019 05:32 pm
Sri Lanka’s Finance Minister Mangala Samaraweera says that a new interest-free loan scheme titled “Sancharaka Poddo” will be launched to help small-scale businesses in the country’s tourism sector which has been severely hit due to the Easter Sunday terror attacks.
Making the announcement at a press conference today (30), he said that small interest-free loans up to Rs 500,000 will be provided with a 12-month grace period and a period of 3 years for loan repayment.
He said that 100 per cent of the interest subsidy will be paid by the government and that the loan scheme will only be made available through the Regional Development Bank (RDB).
The minister said that a programme will also be put in place to provide relief to private bus operators.
He said that following the series of suicide bombings on April 21, the general public was afraid of traveling by bus and that for couple of weeks buses had very few passengers.
The minister said that a circular has been issued to leasing companies to provide a grace period for installments to be paid for the months of April and May 2019.
Samaraweera also said that following a request made by Minister Sajith Premadasa, working capital loans will be provided for the members of musical groups playing open-air shows in order to pay back loans and leasing installments.
He also said that a similar relief measure will be provided for people constructing Vesak Pandals.
