Loans to micro, small, medium scale enterprises

Ministry of Industries

18 September 2023 07:55 pm Views - {{hitsCtrl.values.hits}} 5 Bookmark

CHATURANGA PRADEEP SAMARAWICKRAMA Follow

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The Industrial Development Fund, in collaboration with the Industrial Development Board under the Ministry of Industries and the Regional Development Bank, has granted loans to micro, small and medium scale enterprises to support their developments. A maximum loan of Rs. 500,000 was provided to 25 selected individuals. The official ceremony for the distribution of loan letters took place at the Ministry, led by Industries and Plantation Industries Minister Ramesh Pathirana. Pix by Nimalsiri Edirisinghe

Comments - 5

Roger Halliday Monday, 18 September 2023 09:09 PM

During the MR administration loans were given to their henchmen in the place that was burned down in Negombo During the aragalaya. Did the state get the money ? Like the loans written off as bad debts the favored will go free.

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DD Monday, 18 September 2023 09:49 PM

This is indeed positive news. Ensuring that micro, small, and medium-scale enterprises have equitable access to these loans is crucial. It's important to remember that these loans are not free handouts; the bank will recover the full amount with interest. The public display of loan recipients might inadvertently discourage potential future applicants. We should consider a more business-like approach to maintain the integrity of the loan program.

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Political supporters Monday, 18 September 2023 09:55 PM

When the loans are not repaid, they would be written off ?

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Commoner Tuesday, 19 September 2023 01:16 AM

To get their votes, the politicians before the election will say, “ if you vote for us we will write off your loans”. Isn’t that good ?

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Lumbini Tuesday, 19 September 2023 11:39 AM

Instrest must not exceed 10%.

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