Boost for SME tea estate owners via Rs. 797 m funding from ADB; banks told step up support

Minister of Plantations Dr. Ramesh Pathirana has instructed State banks to pay more attention to the loans provided by the Asian Development Bank to small and medium scale (SME) tea estate owners.

He said that the Ministry had received information that SME tea estate owners were finding it difficult to obtain loans. 

The Asian Development Bank (ADB) has provided a loan of Rs. 797 million to the Government to uplift SME tea estate owners and State banks are to channel the funding.

The request for State banks to extend proactive support was made during a review of the ADB funding scheme by Minister Pathirana recently.

He said about 75% of SME tea estate owners play a significant role in strengthening the economy of this country. 

“We should appreciate it. The Government wants to further strengthen these SME tea estate owners,” he said.

The Minister also instructed officials to give priority to SME tea estate owners and take necessary steps to providing loans.

State Minister Kanaka Herath, Secretary to the Ministry of Plantation Ravindra Hewawitharana, Ministry officials and senior officials of State banks also participated in the discussion.