Sri Lankan government’s Enterprise Sri Lanka programme to develop young entrepreneurs well accepted in the western province
The local media in Sri Lanka has reported that 87 loans to strengthen young entrepreneurs under the government’s Enterprise Sri Lanka programme have already been disbursed island wide. Among the loans disbursed, 22 have been disbursed in the Western Province.
This was reportedly revealed in the weekly progress report on the implementation of the ‘Thurunu Diriya’ (Young Strength) loan scheme.
According to reports, the provincial-wise and district-wise loan disbursement marks a growth of 14% when comparing with the previous week.
‘Thurunu Diriya’ loan recipients are engaged in businesses ranging from beauty culture, garments, computer, mobile phones repairing, etc.
This special loan scheme provides loans with a low interest rate, without a guarantor and collateral or with lenient guarantor conditions, for entrepreneurs under the age of 40 years, who possess a degree or a recognized vocational certificate and who has been in the business for minimum of three years.
OSL take:
The Sri Lankan government’s Enterprise Sri Lanka programme is aimed at building a strong line of young entrepreneurs. This would result in the overall growth of the country’s economy. Given the skilled labour available in the country and the increasing opportunities, foreign companies could look at forming partnerships with local entrepreneurs and look at expanding the businesses targeting the export market and the increasing tourist traffic to the country. Sri Lanka enjoys trade agreements with many countries and also possesses the EU GSP Plus and US GSP facilities to promote local exports. Also, the country’s tourism sector is on an upward path. All these indicators portray a fruitful investment for those who wish to invest in Sri Lanka.
| Article Code : | VBS/AT/29082018/Z_7 |