Special loan scheme for Northern entrepreneurs popular
A total number of 1,875 loans to the value of Rs. 264
million has been disbursed under the Vadakkin Vasantham loan scheme by
the People's Bank and Bank of Ceylon upto November 5.
In addition 5,927 beneficiaries have also been
registered under People's Bank, Bank of Ceylon, Hatton National Bank and
Sanasa Development Bank to obtain credit facilities under the loan
scheme.
Out of the total granted, 47 percent of loans (890)
have been disbursed for agricultural purposes while 28 percent (524)
were for trade and service sector activities.
In agriculture, farmers have shown a keen interest to
obtain loans for fruit cultivation, i.e, grapes and banana and livestock
development activities.
The balance 25 percent (461) has been obtained by
borrowers in the fisheries, small and micro-industries sectors in the
Jaffna Peninsula.
With the commencement of agricultural activities for
the 2009/10 Maha cultivation season this month, it is expected that a
large volume of agricultural credit will be disbursed by PFIs in the
Northern Province.
The Vadakkin Vasantham special loan package that was
launched by President Mahinda Rajapaksa on July 13 is being implemented
with loans upto Rs. 200,000 being granted at an interest rate of 12
percent per annum, with repayment over a period of five years.
Courtesy : Daily News |
