Pan Asia Bank signs MOU with CBSL to boost commercial scale dairy development

Tuesday, 12 August 2014 00:34 - - {{hitsCtrl.values.hits}}

Pan Asia Bank has signed a Memorandum of Understanding with the Central Bank of Sri Lanka recently to offer a Commercial Scale Dairy Development Loan Scheme (CSDDLS) to improve productivity of dairy farmers. The CSDDLS will facilitate individuals, a group or a registered company in the dairy sector subject to a maximum loan facility of up to Rs. 25 million. These loans could be obtained from any of the 77 Pan Asia Bank branches located island wide. This loan scheme can be obtained for purposes such as purchase of live-stock, establishment of cattle sheds, buildings, irrigation systems (sprinkler, pipeline), construction of well or agro-well, fodder cultivation, establishment of new farms, farm development, construction of bio gas units, expansion of existing farm, production of dairy based products or milk processing, purchase of machinery and equipment such as tractors, water pumps, refrigerators, cream separators, milking machines and grass choppers, freezer trucks for milk transportation and storage to preserve milk based products. It also supports any other innovative activities directly related to dairy development or promoting the culture of drinking liquid milk and also other innovative methods as recommended by veterinary surgeon or livestock officer for improvement of production and quality of products. The bank expects to further grow its loan portfolio towards dairy development industry with this loan scheme focusing mainly on SME entrepreneurs who are engaged in dairy development sector.