In line with its policy to create 50,000 entrepreneurs over the next five years, the Government has approved the continuation and expansion of a concessionary loan scheme to support young business owners.

Initially, Rs. 500 million was allocated in the 2025 Budget to implement the programme, targeting youth in the agriculture and industrial sectors. The Cabinet granted approval for the use of these funds at its meeting on 18 August 2025.

To further strengthen the initiative, Rs. 750 million has been earmarked in the 2026 Budget. Loans under the scheme will be offered at an annual interest rate of 4% through People's Bank Sri Lanka, Bank of Ceylon (BOC) and Regional Development Bank Sri Lanka.

The Minister of Agriculture, Livestock, Land and Irrigation presented the proposal to Cabinet, highlighting the ministry’s plans to issue guidelines and oversee the programme’s implementation.

Cabinet approval now paves the way for the scheme’s expanded rollout, providing both financial support and mentorship to the next generation of entrepreneurs.