Rs 6 b for SME sector loans
The government has taken measures to allocate Rs 6 billion to provide
immediate loans for the SME sector to empower Small and Medium
Enterprises (SMEs). The government has received the money from the World
Bank aid programme. It has already disbursed the money to seven banks to
provide loans for required enterprises.
Speaking at a press conference held to announce the SME Machinery and
Technology Exhibition 2011, Federation of Chambers of Commerce and
Industry of Sri Lanka Secretary General Thusitha Tennakoon said the main
objective of the project will be to provide immediate loan facilities
for SME sector entrepreneurs and upcoming innovators.
Many SME sector entrepreneurs have to face collateral issues to
obtain loans from banks. Having understood these issues faced by the
entrepreneurs, the government has launched this project to grant
immediate loans for entrepreneurs. Loans will be given to entrepreneurs
who come up with viable commercial project ideas.
The SME sector loan scheme is to be launched at the SME Machinery and
Technology Exhibition 2011 on June 10, 11 and 12 at the BMICH. The
exhibition will be open from 10 am to 7 pm and is organized by the Small
and Medium Enterprises Developers in collaboration with the Industry and
The main objective of the exhibition is to enhance technological
capabilities of the SME sector to emerge itself as an efficient and
competitive sector in the economy and to prepare them for the global
The exhibition will depict various machinery and services of local
and international machinery institutions, research and development
institutions and finance and business development industries.
In concurrence with the exhibition, several seminars will be held on
government policies and strategies on the SME sector, high tech
machinery and approaches that are adopted in various countries.