Stakeholders review progress of ‘Thurunu Diriya’ loan scheme

Thursday, 12 July 2018 00:15 - - {{hitsCtrl.values.hits}}

Progress review of the implementation of the ‘Thurunu Diriya’ loan scheme in the Western Province was held at the Temple Trees on 6 July.

This meeting was attended by officials of Bank of Ceylon (BOC) headed by Ranel T. Wijsinha, a member of the BOC Board of Directors, and C. Amarasinghe, BOC Deputy General Manager (Sales and Channel Management), selected officials from the District and Divisional Secretariats of the Western Province, officials from Small Enterprises Development Division (SEDD) and officials from the Central Program Management Unit (CPMU) of the Ministry of National Policies and Economic Affairs and PDO.

‘Thurunu Diriya’ is a loan scheme which is designed to provide guarantor free financial assistance up to Rs. 200,000.00 and provide financial assistance with lenient guarantors for loans above Rs. 200,000 for young entrepreneurs who are already engaged in small scale entrepreneurial activities for more than three years, to expand and stabilise their business. It is specially designed for the benefit of young entrepreneurs by Bank of Ceylon.

The Divisional Secretariats play a key role in identifying entrepreneurs through their field staff in addition to the said staff. Business plans are submitted to the bank by the Divisional Secretariats (AGAs).

Following is the eligibility criteria for the above loan scheme: Being less than 35 years old; possessing a Degree/Diploma/NVQ – III/Vidatha, etc.; a business registration/certification from GN; certified accounts for immediate last year/for last 12 months; and an acceptable business plan.

The main objective of this meeting was to discuss the progress of the implementation of the ‘Thurunu Diriya’ loan scheme. At this meeting, Chairman briefly introduced about the ‘Thurunu Diriya’ loan scheme, its objectives and how it benefits the young entrepreneurs of the country. He also extended a special thank to the Bank of Ceylon for taking initiative in this valuable national endeavor.

In addressing the meeting, the Director, BOC requested the officials to present any issues they face when implementing the above loan scheme. Some of the issues were presented and the solutions for those issues were given by the responsible officers. In addition, important proposals in implementing the above loan scheme was also presented. Finally, the current status of the ‘Thurunu Diriya’ loan scheme was presented.

As for the reports, the following information was revealed regarding the progress of implementing in the above loan scheme in the Western Province: Number of business plans created: 65; Number of business plans handed over to the AGA office: 31; Number of business plans handed over to the BOC: 3; Number of loans granted by BOC: 2.

The meeting was adjourned till 28 September, at which the progress will be reviewed.

Progress review of the implementation of the ‘Thurunu Diriya’ loan scheme in the other provinces will be held within the next two months.

Further details of this loan scheme can be obtained from the Bank of Ceylon branches or the Divisional Secretariat offices islandwide.