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Last updateMon, 22 Jan 2018 8pm

Business News

“Enterprise Sri Lanka” to come into effect with 15 loan schemes on offer, for young entrepreneurs.

“Enterprise Sri Lanka”, which is one of the main features of the Budget 2018, will be launched from March this year. Young entrepreneurs will be able to obtain credit facilities under concessionary interest rates. Loans can be obtained up to 60 billion rupees, under 15 loan schemes. The 15 different loan schemes that have been proposed include the fields of Agro, fishery, industries and loans for small and medium enterprises. This scheme includes journalists and those who are self-employed, as well.
In addition to young entrepreneurs, women and differently abled persons will also be provided with a special opportunity to take part in this program. Women and differently abled persons who come forward to take part in this programme will be offered an additional interests subsidy of 10 percent and 15 percent, respectively. The women will have to form a company of at least with ten equity share-holders and each share-holder should have invested at least 10,000 rupees.
The government expects Small and Medium Scale Entrepreneurships to be the backbone of the economy.
The heads of state and the private banks have assured the Ministry of Finance of their continuous support to this project in order to realize the governments objectives of creating one million new jobs, increase per capita income and the expansion of exports through the programme "Enterprise Sri Lanka"

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