Bank of Ceylon follows revival action to assist affected business community 

Sri Lanka‘s business community struggling to survive and repay loans during the COVID -19 crisis period has been given new life line of revival by the Bank of Ceylon (BOC) by offering financial technical and other necessary assistance.

One stop dedicated unit is now in fully operational at the BOC head office in Colombo to provide its services to revive the affected companies rather than recovering their delayed loan payments, Chairman of the Bank Kanchana Ratwatte told a media conference in Colombo on Thursday.

A sum of Rs.26 billion by the bank has been disbursed among several affected companies to resume their businesses, he added.

These companies have been granted the stipulated moratorium for their loans and also easy terms in repaying their debt to the bank while offering necessary guidance and assistance via this fully-fledged one-stop centre, BOC General Manager D.P.K. Gunasekera disclosed                                                

“Businesses affected by the pandemic have been granted a moratorium for funds up to Rs. 100 billion for a period of 6 months,” he emphasized.

He noted that the bank has already disbursed Rs. 42.8 billion by handling Central Bank’s Saubagya COVID-19 Working Capital Loan scheme. (BS)