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CBSL releases over Rs. 179 b through Saubhagya loan scheme

09 Nov 2021

  • Processes 62,574 applicants
The Central Bank of Sri Lanka (CBSL) has released Rs. 179,280 million in order to facilitate the Covid-19-affected businesses through the Saubhagya Covid-19 Renaissance Loan Scheme Facility (SCRF). SCRF is to be implemented in three phases with the purpose of providing working capital loans at an interest rate of 4% per annum, with a repayment period of 24 months, including a grace period of six months. Accordingly, the CBSL processed 62,574 applications which eventually led to the release of Rs. 179,280 million, while a debt moratorium has been granted up to 31 December 2021, the repayment period has been extended by 12 months to 36 months. Apart from the Saubhagya loans, several other schemes were also offered to the small and medium enterprises (SMEs) via the financial institutions (FIs) supervised by the CBSL. The schemes included extended repayment periods, concessionary rates of interest, working capital loans, debt moratoriums, and restructuring or rescheduling of credit facilities for the affected borrowers. Thus, the sectors of SMEs which were subjected to these credit facilities were tourism, apparel, plantation, information technology, logistic service providers, three-wheeler owners, operators of school vans, lorries, small goods transport vehicles and buses, and private sector employees.


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