Sri Lanka, Aug. 20 -- The Cabinet of Ministers on Monday (18) approved the implementation of a concessionary loan scheme of Rs.5 million per individual for agricultural entrepreneurs, aimed at encouraging more young people to enter the agriculture sector, Cabinet Spokesman and Mass Media Minister Dr. Nalinda Jayatissa announced.
"This loan scheme has been introduced primarily to achieve the government's target of creating 50,000 agricultural entrepreneurs within the next five years," the Minister stated.
The scheme will be facilitated through the Bank of Ceylon, People's Bank, and the Regional Development Bank and will run for five years. Under the initiative, beneficiaries will be charged an annual concessionary interest rate of just 4% ...