Cabinet approval has been granted for the implementation of a housing programme for Sri Lankans employed overseas.
The Sri Lanka Bureau of Foreign Employment (SLBFE) in collaboration with the National Housing Development Authority and licensed banks has planned to implement a housing programme for overseas employees.
It is expected to grant a maximum of Rs.10 million as a loan grant and a portion of its loan interest amount is to be contributed by the SLBFE.
As per the proposal, the loan amount obtained under the proposed loan scheme should be paid by foreign exchange remitted through legitimate channels within the period the loan receiver is engaged in overseas employment.
Payments would be made in Sri Lankan rupees once the foreign employment is completed and the Sri Lankan migrant worker returns to the country.
Accordingly, the Cabinet approved the proposal submitted by the Minister of Labour and Foreign Employment to implement the proposed housing programme. (NewsWire)