DFCC Bank unveils ‘Krushibala’ loan scheme to enhance local agri businesses

In its next step to advance economic development and fulfill its pledge to contributing to a resilient Sri Lanka, DFCC Bank announces the ‘DFCC Krushibala’ credit scheme, introduced exclusively to assist SMEs and Corporatesengaged in the local Agricultural and related sectors. 

The new ‘DFCC Krushibala’ credit scheme introduces loan facilities of up to Rs. 100 million, with payment periods of 5 to 7 years based on the type of loan, at a concessionary fixed interest rate of 7 percent per annum. 

The core objective of the scheme is to enable and empower SMEs in the agriculture and related sectors and build a strong platform through which they may work towards overcoming and rebounding from the difficulties faced due to the on-going Covid-19 pandemic. 

Loans under this scheme can be obtained for Cultivation (Tea/ Rubber/ Coconut / Floriculture/ Rotational Crop Cultivation/Inter Cropping), Livestock, Dairy, Agriculture Processing (Rice Milling, Grain Legume Processing, Fruit and Vegetable Processing, Dehydration etc.), Warehousing and Enhancing Storage Facilities, Development of Commercial Agriculture and Hi-Tech Agriculture (Control Environmental Agriculture / Export Agriculture Crops, Organic Farming/ Nursery/Seed Production, Drip Irrigation, Tissue Culture etc.) and Introducing / Capacity Enhancement of Organic Fertilizer Manufacturing.

The bank has committed to support the organic fertilizer manufacturing through this scheme at a historic time when the country is transforming to organic farming. Therefore the financial support to entrepreneurs and enterprises that are venturing out to meet the demand of organic fertilizer is crucial at this juncture. 

DFCC Bank firmly believes that it is of paramount importance to introduce such concessionary financial schemes to uplift local industries to secure economic growth and financial stability. The lack of access to sources of capital, and severely restricted cash flows due to stagnant economic conditions have proved to be a significant hurdle in the path of economic development.  Keeping this in mind, the credit scheme and fund allocation to the agricultural sector, which employs a significant percentage of the local population, and accounts a heavy portion of the local GDP, stands to have crucial, noteworthy, positive consequences for all stakeholders involved. 

The first ‘DFCC Krushibala’ loan was presented to Saman Udayakumara, an energetic entrepreneur from Wellawaya.