President Anura Kumara Dissanayake said the 2027 budget allocates Rs. 67,687 million for interest subsidies and refinancing to banks. The allocation is expected to support concessionary loans worth Rs. 174 billion to entrepreneurs through state and private banks.
The proposals cover several sectors. A housing loan of up to Rs. 5 million is planned for migrant workers, with interest subsidies shared by the Government and the Sri Lanka Bureau of Foreign Employment. Home-based tourist accommodation operators would receive loans at 3 percent, while fisheries enterprises with export potential would receive loans through banks at 5 percent.
Rural enterprises that employ at least five Aswesuma beneficiaries may borrow through the Samurdhi Bank at 4 percent. An interest-free pledge loan scheme of Rs. 20,000 million is also proposed for small and medium paddy mill owners from 2027, and the Re-MSME Plus scheme would add an interest subsidy for a further Rs. 20,000 million in loans.
Source
Island.lk
Summary written by Colombo Today from reporting by Island.lk.
- #sri lanka budget
- #concessionary loans
- #interest subsidies
- #small and medium enterprises
- #migrant workers
