News

Govt. launches loan schemes to support struggling SMEs

Published

11 months ago

June 24, 2024

editor

The Government has introduced four new loan schemes totaling Rs. 20,000 million to support micro, small, and medium-scale industries and businesses.

The initiative, aimed at revitalizing collapsed sectors, was announced by Industries and Health Minister Dr. Ramesh Pathirana during a conference organized by the Ceylon Federation of MSME at BMICH in Colombo.

These credit facilities will be offered at low interest rates and with simple conditions, in a program jointly organized by the Finance Ministry and the Industries Ministry.

Sixteen leading banks in Sri Lanka will implement two of the schemes.

One scheme allows manufacturing and industrial enterprises with fewer than 200 employees to obtain loans up to Rs. 15 million at a 7% interest rate, repayable over ten years with a one-year grace period.

Another scheme offers loans up to Rs. 5 million to small and medium entrepreneurs approved by the Sri Lanka Credit Information Bureau, at an 8% interest rate, with a five-year repayment period and a three-year grace period.

Additionally, the Ministry of Industries has launched two schemes for small and medium farmers. One scheme, named “Smile,” offers Rs. 30 million for environmentally-friendly projects at a 6.5% interest rate, with a ten-year repayment period and a two-year grace period.

News

COVID subvariants spreading in Asia detected in Sri Lanka

Published

8 hours ago

May 31, 2025

editor

The Medical Research Institute of Sri Lanka has confirmed that the COVID-19 variant currently spreading in the Asian region has also been identified in the country.

Dr. Jude Jayamaha, a specialist in viral diseases at the Medical Research Institute, stated that patients infected with the Omicron subvariants LF.7 and XFG are being reported locally.

Dr. Jayamaha explained that this finding was confirmed through research conducted on biological samples collected from several hospitals across the island.

However, he emphasized that there is no need for undue fear regarding these COVID-19 variants.

Health authorities have also stressed the importance of vulnerable groups—such as pregnant mothers, the elderly, and those with chronic illnesses—following health guidelines, including wearing face masks and avoiding crowded places.

Dr. Jayamaha reiterated that new COVID-19 variants emerge periodically, and health authorities are continuously monitoring the situation, so the public should remain calm.

(newswire.lk)

(This story, originally published by newswire.lk has not been edited by SLM staff)

News

Anudi misses out from Miss World Quarter-Finals

Published

8 hours ago

May 31, 2025

editor

The Miss World organization has announced its quarter-finalists, selecting 40 contestants from across Asia, Europe, Africa, and the Americas.

Sri Lanka’s Anudi Gunasekara, was not selected in the top 40, despite being recognized for her impressive performances in the Multimedia and Head-to-Head challenges.

The top 40 consisted of 10 contestants each from Asia & Oceania, Europe, Africa and the Americas.