NEWS NOW | COLOMBO – There has been a massive response to this loan scheme offered to professionally qualified youth who are in business start ups of the Small Enterprise Development Department (SEDD) The SEDD has identified 823 participants borrowers and to help about 200 to participate in business startups. This was disclosed at a progress review meeting held at the PDO Office of the PMO on 10th May 2018.
In addition, the SEDD has launched a programme to identify 10 young entrepreneurs from each Grama Niladhari Division who could participate in this scheme.
The scheme has been expanded and eligibility has been granted to allow to permit the Grama Niladhari Division to certify businesses which have been established for 3 years and this certificate could be submitted to the Bank Manager through the Divisional Secretariat.
Further, in addition the Degree/Diploma/NVQ certificate, business training provided by the Vidatha Institutes in the District Secretariat has already been recognized by Bank of Ceylon for this scheme.
The Bank of Ceylon has already printed a leaflet to promote this scheme which is available at all Branches. The Policy Development Office of the PMO with the assistance of the Ministry of Home Affairs has mobilized to promote this loan scheme for the eligible/targeted borrowers. Guarantors are not required.
