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State banks must support Govt. policy for economic revival: Prez

President Gotabaya Rajapaksa today said it was imperative for state banks to support government policy for economic revival.

He made these comments during a progress review meeting with officials of Bank of Ceylon (BOC) at the Presidential Secretariat today.

Highlighting the crucial role of state banks in Sri Lanka’s economic recovery, Rajapaksa said banks must focus on providing loans to small and medium scale industrialists.

He said State banks must provide the necessary support to investors as well.

“Charging double digit interest on loans does not support the country’s expectations,” Rajapaksa told officials of BOC.

He further emphasized that a crippled economy cannot be revived through old thinking and mechanisms.