The Cabinet has approved the continuation of a concessional loan scheme aimed at developing young entrepreneurs in Sri Lanka’s agricultural and industrial sectors.
According to the government’s policy statement, the initiative seeks to create 50,000 entrepreneurs within five years by providing financial facilities and guidance. As part of this effort, Rs. 500 million was allocated in the 2025 Budget to launch the loan scheme, with Cabinet approval granted on August 18, 2025.
For 2026, the government has set aside Rs. 750 million to further expand the program.
Loans will be provided at an annual interest rate of 4% through the People’s Bank, Bank of Ceylon, and the Regional Development Bank.
The Ministry of Agriculture, Livestock, Lands, and Irrigation will issue the necessary guidelines and oversee the implementation of the loan scheme, a proposal that was presented to the Cabinet by the Minister and received unanimous approval. (Newswire)