LDB grants 14,022 entrepreneurs to nation

Lankaputhra Development Bank (LDB) established with the aim of providing financial assistance to Small and Medium Enterprises, has earned a special place among the financial institutions in the country.

The bank is planning to introduce 14,022 entrepreneurs to the country this year as an accelerated program. Under this program Lankaputhra Development bank will introduce one entrepreneur from each Grama Niladari Division.

The inauguration of this program was held at the Lankaputhra Development Bank head office in the presence of MP S.M. Marikkar, the bank’s Chairman Lasantha Goonawardena and the senior management.

100 entrepreneurs were given loans and they represented different Grama Niladari divisions of Colombo district. Entrepreneurs engaged in agriculture, industry, services, self employment, fisheries, tourism and any other sectors are eligible to obtain loans under this scheme.

The application to be submitted to obtain a loan was published in the national newspapers. The duly filled application forms can be posted or handed over to any branch of Lankaputhra Development Bank.

MP Marikkar said that he always wanted to know the progress of the bank and had even questioned in Parliament. He also said that the bank was having many issues regarding Non Performing Loans but the present management is taking steps to reduce the share of Non Performing Loans. MP Marikkar thanked the present management for fulfilling the objectives for which the bank was established.

Lankaputhra Development Bank Chairman Lasantha Goonawardena said that the financial situation of the people should be strengthened for the country to progress. He said that under this scheme 14,022 will become entrepreneurs and Goonawardena was confident that all of them can be given loans by the Lankaputhra Development Bank. He said that the bank was willing to give loans to businesses which have already started operations. Lankaputhra Development Bank also provides consultation and training programs for entrepreneurs.

On 12 August selected entrepreneurs in the Batticaloa district will be given loans while loan programs have also been organised in Polonnaruwa, Hambantota and Nikaweratiya.