By Sarah HannanThe Ministry of Youth and Sports is under discussion with the Central Bank of Sri Lanka (CBSL) to provide low-interest business loans through state banks to youth planning to start small enterprises. Minister of Youth and Sports Namal Rajapaksa, speaking to The Morning, said: “During my recent visit to the Northern Province, I came across youth groups who informed me of the difficulties they face when applying for business loans. Moreover, the interest on these loans is very steep and can become unbearable for small enterprise owners to pay. “The Ministry will allocate sufficient funds to establish the SED loan scheme through the 2021 Budget, so that the youth will have easy access to obtain business loans. The loans are to be made available in the first quarter of 2021.

Source: The Nation November 15, 2020 22:06 UTC