Concessionary loan schemes to be reviewed, expanded: Finance Ministry

The Finance Ministry today said it would review and expand the concessionary loan schemes introduced by the former government.

The statement came in response to reports that the new government had suspended the ‘Enterprise Sri Lanka’ concessionary loan scheme and similar programmes of the previous government.

“The government understands that uplifting Small and Medium Scale Enterprises by providing loans at concessionary interest rates will directly boost the country’s economic growth,” the ministry said.

It, however, insisted that the loan scheme should also be implemented in other sectors which are vital for the economy.

“The government will study the loan schemes and implement it in a strong manner, expanding it across a wider range of sectors to attract investments,” the statement read.

Enterprise Sri Lanka, launched by the previous government in 2018, saw the implementation of 15 concessionary loan schemes primarily targetting entrepreneurs and start-ups.