Sri Lanka’s Finance Minister says Enterprise Sri Lanka programme to promote entrepreneurial culture in the country
Finance Minister of Sri Lanka Mangala Samaraweera has reportedly said that subsidized credit made available under the government’s Enterprise Sri Lanka programme is aimed at developing entrepreneurial culture in the country and is only intended for new businesses.
“We have had reports that some banks were talking in ways that discouraged new customers from taking loans,” the Minister has told journalists.
“We have also had reports that some banks were trying to give them to old customers since the rates were very attractive. We will establish a toll-free hotline. People can call 2025 for inquiries and complaints,” he has noted.
He has also added that the Finance Ministry will also require period reports of loan recipients who had benefitted from the scheme.
According to Samaraweera, the intention was to build 100,000 new entrepreneurs.
The Industrial Development Board and Export Development Board had helped with advice on international trade and producing several products.
The Minister has pointed out that 5,175 persons had registered for Enterprise Sri Lanka credit at the exhibition held in Moneragala recently.
OSL take:
The statement by Sri Lanka’s Finance Minister is indicative of the support extended by the Sri Lankan government towards start ups. The subsidized loan schemes aimed at promoting an entrepreneurial culture would result in the overall growth of the country economy. Given the support extended by the Sri Lankan government towards start ups, foreign businesses could look at investing in small and medium scale local ventures and help expand the business by venturing into profitable economic sectors.
| Article Code : | VBS/AT/11092018/Z_1 |