Flood hit borrowers in Sri Lanka to get 3-month interest waiver
ECONOMYNEXT – Sri Lanka’s flood-hit borrowers can get concessions including interest waivers for three months from lenders, but many were not aware of the benefit, the Central Bank said.
The Central Bank said it had ‘permitted’ licensed banks to give concessions to borrowers hit by floods to help get their businesses back on track.
"Based on the information received by the Central Bank of Sri Lanka, many borrowers who have been affected by the recent floods are not aware of this concessionary scheme, and therefore have not received these concessions," the bank said. "Accordingly, such borrowers are informed to contact their bank branches in this regard."
Sri Lanka has been hit by floods in the Wet zone and drought in the dry zone at the same time. (Colombo/Aug14/2017)