Sri Lanka

President, PM direct all banks to suspend recovery of SME loans

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President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa as Finance, Economy and Policy Development Minister have issued directives to Chairmen and CEOs of all banks to suspend the recovery of loans obtained by the SME sector.

The Government has taken a decision to take up new initiative to revive SMEs of which outstanding debt not exceeding Rs.300 million in each entity since recently announced tax reform initiatives provide substantial savings to all banks including the Central Bank of Sri Lanka.

The Government expects the banks to use part of such savings to revive the SME sector on a priority basis.




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Category: Srilanka


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