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Sri Lanka to give Treasury guarantee for tourism Covid-19 loans, term extended

ECONOMYNEXT – Sri Lanka will give a 50-per cent Treasury guarantee for central bank re-finance loans given to Coronavirus hit tourism companies, Finance Minister Mahinda Rajapaksa said.

The term of loans would be extended till September 2021, he said.

The tourism sector, which was hit by Coronavirus had the potential to grow to about 10 billion US dollars, he said.

He said about 1.5 billion US dollar spent on foreign travel by Sri Lankans could now be spent domestically.

Sri Lanka was earning about 4 billion US dollars from tourism annually before the Covid crisis. (Colombo/Nov17/2020-sb)

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