The Cabinet of Ministers has yesterday (10) approved a proposal to implement a working capital loan scheme under concessionary conditions for revitalising public ventures affected by the Covid-19 pandemic. Therefore, the ventures have confronted a difficulty in supplying working capital required for day-to-day operations. By the end of 2020, with the repercussions of the Covid outbreak throughout the country, the Government implemented a concessionary loan scheme named “Saubhagya Covid-19 Rehabilitation Facility”, under the supervision of the Central bank of Sri Lanka (CBSL), in order to accomplish the working capital requirements for minor and medium-scale sectors. 156 billion has been granted to around 53,200 entrepreneurs under the said loan scheme. Accordingly, the Cabinet of Ministers granted approval to the resolution furnished by the Minister of Finance to provide the opportunity to accomplish working capital requirements of state ventures under said loan scheme.

Source: The Nation August 10, 2021 18:56 UTC