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Sri Lanka to Launch Major Loan Programme for New Entrepreneurs in January

Sri Lanka’s Ministry of Finance, in collaboration with local banks, is preparing to launch a nationwide loan programme aimed at supporting new entrepreneurs starting in January next year, according to Minister of Industry and Entrepreneurship Development Sunil Handunneththi.

Speaking at the Ministerial Consultative Committee on Industry and Entrepreneurship Development in Parliament, the Minister announced that LKR 80 billion allocated in this year’s national budget will be directed toward these entrepreneur-focused loans. A briefing for Members of Parliament will also be held in January to outline eligible sectors and explain the full loan distribution process.

He further revealed that a new National Database for Industrialists has been established to bring all industrial-sector information under one system. Officials noted that nationwide promotions will be conducted to encourage entrepreneurs to register, enabling easier access to government services.

The committee also discussed expanding collateral-free loans for craftsmen registered with the National Crafts Council.

Officials from the National Paper Company Limited reported significant progress at the state-owned mill, stating that production has risen from 150–180 metric tons per month to 400 metric tons after operational improvements.

Minister Handunneththi additionally presented details of a new National Advisory Framework for issuing excavation permits. Aimed at replacing the current fragmented system with a more structured process, the framework is scheduled for implementation in January.

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11 months ago

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