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

Thursday, 22 July 2021 00:00 - - {{hitsCtrl.values.hits}}

The first ‘DFCC Krushibala’ loan was presented to Saman Udayakumara, an energetic entrepreneur from Wellawaya. From left: DFCC Wellawaya Branch Credit Officer Dinith Gunarathne, Proprietor Saman Udaya Kumara, Vice President/Regional Manager Chandana Garusinghe, and DFCC Wellawaya Branch Manager Amila Denipitiya

In its next step to advance economic development and fulfil its pledge to contributing to a resilient Sri Lanka, DFCC Bank announces the ‘DFCC Krushibala’ credit scheme, introduced exclusively to assist SMEs and corporates engaged 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 five to seven years based on the type of loan, at a concessionary fixed interest rate of 7% 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 ongoing 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 fertiliser manufacturing.

The bank has committed to support the organic fertiliser 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 fertiliser is crucial at this juncture.

Commenting on the launch of the loan scheme, DFFC Bank CEO Lakshman Silva stated, “DFCC Bank is delighted to contribute towards the empowerment of Small and Medium Enterprises engaged in agriculture throughout the country with the launch of our new loan scheme. The ‘Krushibala’ scheme has the potential to significantly enhance economic development, by driving growth across key priority sectors in SME and corporate markets. Through this scheme, we also strive to drive economic and financial gender equity and inclusivity across the priority sectors. The ‘Krushibala’ scheme is the next step on DFCC Bank’s journey to secure economic resilience and sustainability and showcases the potential socio-economic benefits that will be brought about by the bank’s long-term approach and strategy.”