CB approved Rs. 28 bn loans among 13,861 businesses affected by COVID-19

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Central Bank and the Government of Sri Lanka, under the refinance facility under the Saubagya (Prosperity) Loan Scheme, named Saubagya Covid-19 Renaissance Facility, have approved 13,861 loan applications under Phase-I of this scheme, totaling Rs. 27.9 billion.
Out of this, licensed banks have already disbursed Rs. 14.8 billion among 7,274 affected businesses island-wide as at June 24. These loans carry a concessional interest rate of 4 per cent with a grace period of 6-months and a repayment period of 24-months, the Bank said in a media release.
Further, the Central Bank said it now stands ready to provide a further Rs. 120 billion at a concessionary rate of 1 per cent to commercial banks for on-lending to the affected businesses at a concessionary rate of 4 per cent under the Phase-II of the Scheme.

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