BOC supports tea factory owners build working capital

14 August 2015 02:46 am Views - 1543

Bank of Ceylon (BOC) has launched a special loan scheme for tea factory owners to build working capital with the direction received from the Finance Ministry and Central Bank of Sri Lanka (CBSL). 

The opportunity is open for the tea estate owners who have registered with the Sri Lanka Tea Board (SLTB).

The tea estate owners who meet the requirements denoted by the SLTB will be eligible for the amount recommended by the SLTB. The facility can be scheduled for a 60-month repayment period allowing them to use it more effectively.

This special loan scheme will be disbursed to the eligible tea estate owners under an annual interest rate of 8 percent, where a special interest subsidy of 2 percent will be borne by the CBSL on behalf of the tea factory owner, enabling him/her to enjoy a very low interest rate of 6 percent for the first two years.
The ceremony to launch this special loan scheme was held yesterday at the BOC head office under the patronage of BOC Chairman President’s Counsel Ronald C. Perera. 

BOC Director Ranel Wijesinha and the bank’s General Manager D.M. Gunasekara were also present. CBSL Regional Development Department Director General Ashoka Handagama, SLTB Chairman Y.G. Wijerathne, the SLTB Director General and Tea Commissioner also participated.

The first loan was granted to Hill Garden Tea Factory Chairman and Managing Director Aruna De Silva of BOC Thalgaswala branch by the BOC Chairman.