Enterprise Sri Lanka loans top Rs.49bn

The Enterprise Sri Lanka subsidized loan scheme has already loaned over Rs.49.1 billion to individuals and institutions, Finance and Mass Media Ministry said yesterday.

The Enterprise Sri Lanka subsidized loan scheme was introduced this June to create 100, 000 new entrepreneurs. It introduced 16 loan schemes and either half or the full interest component of these loans is paid by the government.

According to Finance and Mass Media Ministry, Bank of Ceylon has given the largest number of loans amounting to 11, 807. In addition, Regional Development Bank has given 5, 612 loans; National Savings Bank 2, 983 loans and People’s Bank 1, 402.

The ministry said private sector banks have also provided substantial amount of loans, although a number was not mentioned. 

The ministry further said the 2018 budget has allocated over Rs.5.3 billion to pay only the interest component on these loans.