Over 140,000 credit facilities to empower NE women
Thursday, 25 September 2014 00:35
-
- {{hitsCtrl.values.hits}}
By Ashwin Hemmathagama Our Lobby Correspondent
Uplifting livelihoods and household incomes in the Northern and Eastern Provinces, the Government has extended credit facilities to 141,320 women to start suitable businesses during the past five years.
Minister of International Monetary Co-operation and Deputy Minister of Finance and Planning Dr. Sarath Amunugama said these loans were channelled through different programs conducted by the State banks, with the aim of helping recipients resettle and start normal lives.
“Since 2010 the Bank of Ceylon gave credit facilities to 7,349, People’s Bank to 62,162, Rural Development Bank to 39,279, National Savings Bank to 31,269, and the Lankaputhra Bank to 1,261 women,” the Minister said in response to a question for oral answer raised by UNP Deputy Leader Sajith Premadasa, who wanted the Government to write-off the bad debt taking the current drought into consideration.
“We have several credit facilities for women. Most of the State banks have exclusive loan facilities for entrepreneurs. In line with Budget 2014, women can obtain an interest free credit facility of up to Rs. 250,000 to start suitable businesses. These programs have been extended to the north and the east, where they can make use of microfinance system,” added Minister Dr. Amunugama, who stated that collateral and the guarantors are not necessary for certain borrowings.
However, MP Premadasa expressed his concern about the heavy documentation requested by lending institutions. “The drought is serious in the Northern and Eastern Provinces. It is recommended that these loans be written off,” said MP Premadasa.
