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Sri Lanka’s People’s Bank to give agriculture loans of Rs3mn

ECONOMYNEXT – Sri Lanka’s state-run People’s Bank will give up to 3.0 million rupees for agriculture and set up 200 cluster villages, cabinet spokesman Minister Bandula Gunewardene said.

The government will also started 200 agriculture sales shops and use 10,000 acres for agriculture.

There will also be assistance for small and medium rice millers, he said.

Sri Lanka’s rupee has come under pressure amid monetary stimulus (money printing) and the trade controls have been slapped using law widely used in the controlled era of the 1970s.

Ministers have told people to grow kollu (horegram) and other crops. (Colombo/Apr30/2020)

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