Sampath concessionary loans for 25 undergraduates

Wednesday, 9 October 2013 00:00 - - {{hitsCtrl.values.hits}}

As part of their CSR initiatives, Sampath Bank has granted special education loans for twenty five lucky engineering undergraduates at concessionary terms. Further the bank considers this special initiative to mark its 25th Anniversary as well. The concessionary rate offered for these loans were well below the market rates and awarded under the theme ‘Education for Development’, which is one of the key drivers of the bank’s CSR model.

The students who received the opportunity are the undergraduates of the University of West of England and the North Shore College of Business and Technology Ltd is the affiliated institution to conduct the course study in Sri Lanka. The students were selected from the schools in Colombo and other districts. “The objective of this loan scheme is to produce additional 25 engineers to the nation in the fields of civil and electrical and electronic engineering,” a Bank official said. The entire course fee will be paid by the bank during the course period of four years and the students can settle the loan payments once they pass and start employment. The loans are payable within 15 years. They need not pay out the loans within the four-year course period.