Wednesday Mar 25, 2026
Wednesday Mar 25, 2026
Wednesday, 25 March 2026 00:24 - - {{hitsCtrl.values.hits}}
In line with the Government’s policy commitment to create 50,000 new entrepreneurs within five years, the Cabinet of Ministers on Monday approved further steps to expand a concessional loan scheme targeting youth in the agricultural and industrial sectors.
Addressing the weekly post-Cabinet meeting media briefing yesterday, Cabinet Spokesman and Minister Dr. Nalinda Jayatissa said under the program, loans will be disbursed at a concessional annual interest rate of 4% through People’s Bank, Bank of Ceylon and Regional Development Bank.
He said the initiative is expected to enhance access to affordable finance for young entrepreneurs, stimulate rural economic activity and strengthen value addition in agriculture and industry, while contributing to employment generation and inclusive economic growth.
As an initial measure toward achieving this goal, Rs. 500 million was allocated under the 2025 Budget to implement a concessional loan program. On 18 August 2025, the Cabinet approved to utilise these funds to support young entrepreneurs engaged in agriculture and industry.
Building on this initiative, an additional Rs. 750 million has been allocated in the 2026 Budget to continue and scale up the scheme.
The proposal to their effect was submitted by Agriculture, Livestock, Lands and Irrigation Minister K.D. Lalkantha.
