Programme of 100 loan schemes for SMES announced
President Maithripala Sirisena has given instructions to the Finance Ministry, Central Bank and to the heads of state banks to implement a comprehensive programme of 100 types of joint loan schemes, within the next few months, to provide assistance to the local small and medium-sized entrepreneurs and businessmen to uplift their businesses.
The National Economic Council (NEC) has presented a programme of 100 types of loan schemes for economic revival of the country and the president gave these instructions during a meeting held with the heads of state banks at the Presidential Secretariat, yesterday.
The objective of this programme is to encourage the local small and medium-sized entrepreneurs and businessmen to induce a revival in the field of local industry. The president also instructed the Finance Ministry to provide a report to him within the next two weeks regarding this task, which is to be implemented within the next few months.
The president stressed the importance of paying attention to the proportion of the profits earned by the banks flow to the public. The president further said that it is very important in the economic processes of the country the relevant benefits flow towards the public as well as to entrepreneurs. He also highlighted the need for a broader publicity campaign to educate the public on these loan schemes and pointed out that one of the main issues that many entrepreneurs face is the issues related to the terms and conditions and documents required of guarantors when obtaining loans.he also stressed the importance of creating an environment to grant loans for entrepreneurs without any inconvenience.