Colombo, July 18 (Daily Mirror) - With the aim of revitalizing micro, small, and medium-scale enterprises (MSMEs), a comprehensive package of financial facilities was introduced today (18th) under the patronage of President Ranil Wickremesinghe at the Presidential Secretariat.

This comprehensive package includes a range of financial facilities tailored to bolster both investment and working capital for MSMEs across Sri Lanka.

Fifteen Participatory Financial Institutions, comprising Licensed Commercial Banks and Licensed Specialized Banks, have joined hands to offer these loans at subsidized interest rates. 

The loans are provided under two main categories: support for MSMEs and assistance for MSMEs with non-performing loans. The Ministry of Industries will issue recommendation letters to eligible MSMEs that require financial support and have the potential to upgrade their businesses to the next level.

nder the Micro, Small, and Medium Enterprises Strengthening Investment Loan scheme, loans are available at a concessional interest rate of 7% for a period of 10 years, with a maximum limit of  Rs. 15 million. A total of Rs. 13 billion  has been allocated for this scheme.

For micro, small, and medium-scale enterprises (MSMEs) under the non-performing loans category, a working capital loan of up to Rs. 5 million is provided for a period of 5 years at an interest rate of 8%. The total allocated amount for this initiative is Rs. 5 billion.

The participating financial institutions include Bank of Ceylon, People's Bank, Regional Development Bank, State Mortgage and Investment Bank, Hatton National Bank, Seylan Bank, Sampath Bank, Commercial Bank, DFCC Bank, National Development Bank, Nations Trust Bank, Sanasa Development Bank Limited, Union Bank, Pan Asia Bank, and Cargills Bank.