People’s Bank’s first loan to affected MSMEs
View(s):People’s Bank has extended the first loan under a special Government-intervened loan scheme introduced to support the rehabilitation of micro, small and medium-scale enterprises (MSMEs) affected by Cyclone Ditwah.
The first loan was recently disbursed by the People’s Bank Kalpitiya Branch to a leather goods manufacturing enterprise operating in the Kalpitiya area, enabling the business to resume operations following cyclone-related disruptions, the bank announced.
The facility is provided under the Disaster Relief Fund – Working Capital Loan Scheme, which offers loans of up to Rs. 1 million at a highly concessional interest rate of 3 per cent. The scheme is implemented through People’s Bank branches islandwide with the objective of assisting affected MSMEs to restore their working capital requirements, safeguard employment, and strengthen business continuity.
Presenting the loan cheque.
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