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State banks to offer collateral-free soft loans up to Rs. 1.5 m under Enterprise Lanka: Mangala

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Finance Minister Mangala Samaraweera with Prime Minister Ranil Wickremesinghe who declared opened the Enterprise Sri Lanka exhibition in Jaffna on Saturday


Finance Minister Mangala Samaraweera yesterday announced that the Government has decided to offer interest subsidised loans up to Rs. 1.5 million under the Enterprise Sri Lanka loan scheme without obtaining collateral. 

He said that there is no need for the women of the war widows association and the ex-combatants to look for two surety guarantees.

The Minister emphasised that the Government was mindful of the hardships faced by the Northern people during the last 30 years and especially the hardships faced by the women-led families.

“Let bygones be bygones we are here to lift your livelihood facilities by giving you interest subsidised loans,” declared the Minister who is in Jaffna overseeing the implementation of entrepreneurship loan scheme to young people in the northern province.

He held series of meetings with war affected people to help them to make use of the opportunity under the enterprise Sri Lanka Exhibition to obtain loans.

In the morning he met the members of the War Widows and the Small and Medium Entrepreneurs Associations at the Jaffna Kachcheri.

On the instruction of Minister Mangala Samaraweera, the Jaffna GA is to arrange a two-day workshop on the coming Friday and Saturday to help and train the prospective entrepreneurs to prepare their proposals to submit to the banks. The Northern area managers of the State banks who were present at this meeting agreed to send in their representatives too to make their proposals viable for them to to obtain loans.

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