Jul 01, 2019

Facilities for migrant workers enhanced Featured

Discussions are being held between the Foreign Employment Bureau, State Mortgage and Investment Bank and the People’s Bank to enhance the benefits granted to migrant workers by the Sri Lanka Foreign Employment Bureau.

Talks are primarily held with regard to provision of pre-migration loans, self-employment loans and housing loans.

These talks would focus on rectifying the shortcomings in the current loan schemes and increasing the loan amounts by the State Mortgage and Investment Bank, assisting migrant workers to expand their investment opportunities and several other issues.

Further, talks were held with the People’s Bank representatives with regard to increasing the pre-migration loans from Rs. 50,000 to Rs. 500,000 and increasing the housing loans to Rs. 500,000. The two parties also discussed the possibility of re-enacting the self-employment loan scheme which has been dormant all this time.

Both establishments had responded positively to the proposals put forward by the Foreign Employment Bureau and both parties had agreed to implement these initiatives under more simplified legal terms.