Fresh concessionary loans for Divi Neguma families

Tuesday, 26 August 2014 01:59 -     - {{hitsCtrl.values.hits}}

As part of its poverty alleviation policy the Government will provide concessionary loans to families under the Divi Neguma program. Economic Development Minister Basil Rajapaksa has stated the program will be launched to grant loans at concessionary rates of interest to each Divi Neguma beneficiary family and it will be possible to obtain loans without security. He added that under this program initiated under the guidance of President Mahinda Rajapaksa, loans of Rs. 5,000 to 50,000 will be granted at the concessionary rate of 4% interest to commence self-employment and other activities. This was disclosed at a meeting held recently at the Ministry of Finance. The Minister added that this credit scheme will be financed from the money deposited by the Divi Neguma beneficiaries in Divi Neguma banks. The people who are burdened with heavy debts due to loans obtained from finance companies at higher rates of interest also will be able to obtain loans under this scheme to settle their loans. The discussion also focused on the paddy harvest in Yala and the price of rice. The officials indicated that this is the harvest time in the relevant districts, including Polonnaruwa and Anuradhapura, and the private sector is busy purchasing paddy at higher prices. It was also revealed that the prevailing climatic conditions had an adverse impact on paddy cultivation. Necessary instructions were issued by the Minister to the officials with regard to stocking of paddy and maintaining a sustainable price of rice while emphasising that arrangements made should protect the farmer as well as the consumer. He also instructed the relevant officials to streamline the scheme of purchasing locally produced potatoes at certified rates of prices. Minister of Agriculture Mahinda Yapa Abeywardena, Secretary to the Ministry of Finance, Dr. P.B. Jayasundera and a host of senior State officials were present during the meeting.