State banks and Finance Ministry launch Joint Loan Scheme for New Entrepreneurs

The Ministry of Finance and State banks are set to carry out a joint programme to provide loan facilities for new entrepreneurs from January 2026.

This was expressed during a parliamentary committee meeting chaired by the Advisory Board on Industrial and Entrepreneurship Development Minister Sunil Handunnetti.

He said that through this year’s Budget Rs 80 billion has been allocated to provide loans for new entrepreneurs and that this integrated programme will be implemented to ensure the allocated funds are granted to them effectively.

He also mentioned that a programme is likely to be held in January next year to brief Members of Parliament regarding the sectors eligible for these loan schemes and the full process of granting such financial assistance.

In this regard, a national industrialists' database has been established to bring together in one system information concerning all industrialists. Accordingly, through registration in this database access by entrepreneurs to the required services will be much easier.