Concessional Loan Scheme for Micro and Small Entrepreneurs in Western Province

Speaking at the Colombo District Coordination Committee meeting, he said that the initiative aims to strengthen small businesses by providing access to low-interest financial assistance.

Under the scheme, entrepreneurs will be able to obtain loans at a concessional interest rate of 3%, with a maximum loan limit of Rs. 3 million. The repayment period has been set at seven years, following a diminishing balance method.

The Chief Secretary further stated that detailed information on accessing the scheme will be made available through the respective Divisional Secretariats.