ECONOMYNEXT – Sri Lanka is to provide entrepreneurs with loans at a two percent interest rate, using 30 billion rupees that has been set aside by the government and the Asian Development Bank (ADB) as a means of providing capital, said Prasanna Ranaweera, Minister of State for Small and Medium Enterprise Development.
“Our Ministry is entrusted with the task of encouraging entrepreneurs, who make up 2.8 percent of the total population of our country. Our goal is to increase the number of entrepreneurs to 10 percent by 2028,” he said at a press briefing at president’s media centre.
“We have started a comprehensive program for the promotion of small and medium enterprises. More than 200,000 children enter the job market after passing the GCE Ordinary Level exams but some do not have a chance in the job market. So we want to make them entrepreneurs. We hope to re-direct the child who goes on the road with a trishaw and provide them with the knowledge and training they need.”
With the Asian Development Bank financial support, 30 billion rupees has been allocated for a small loan scheme for enterprise development among local entrepreneurs.”President Ranil Wickramasinghe’s aim is to make the current youth generation into successful entrepreneurs suitable for the future world,” he said.
“The world market is ready to spend 789 billion for handicrafts for 2024-2025. If we can reserve 1 percent of it for our country, I believe it will be a great achievement.” (Colombo/Dec4/2023)