PRESIDENT INITIATES MICRO-ENTERPRISES IN NP AND EP

The Secretary, Ministry of National Integration and Reconciliation V. Sivagnanasothy said President Maithripala Sirisena, in his capacity as the National Integration and Reconciliation Minister, with the concurrence of the Cabinet of Ministers on February 28 had initiated action to establish 1,785 micro-enterprises in the Northern and Eastern Provinces under the Enterprise-based Village Development Project.

The objective of establishing micro- enterprises in the Northern and Eastern Provinces is to improve the socio-economic standards of the conflictaffected communities and to address poverty and regional disparities in the lagging areas.

It is proposed to establish micro-enterprises in 113 villages in the Northern and Eastern Provinces and the project will be supported by a concessionary micro-finance funding through the Regional Development Bank and SANASA. The total estimated cost is Rs.446 million. Each Microenterprise will receive a maximum assistance of Rs.250,000. 25 per cent of the estimated cost of each micro-enterprise initiative will be supported through a matching grant whereas 75% will be under loan, and the interest will also be backed by the Government funds.

The Office for National Unity and Reconciliation (ONUR), chaired by former President Chandrika Bandaranaike Kumaratunga, will give leadership to implement these projects.

The projects will contribute towards the alleviation of poverty and serve as a healing and reparation programme to empower families affected by the war.