SME sector to get Rs.50 Bn ADB loan facility – DG Gunasiri

Director General of the Government Revenue Unit M. J. Gunasiri said that the country’s economy will be boosted by two hundred and fifty billion rupees next year through the concessional loan facility of Rs.50 billion offered jointly by the Asian Development Bank and the government to assist Small and Medium-scale Entrepreneurs (SMEs) who have fallen due to huge crises. The Director General said Sri Lanka which has recorded a negative economic growth rate in the face of huge social, economic, political and challenges for five consecutive years from 2019 to this year, will achieve economic growth next year and it is significant that the 2024 budget proposals will be very helpful for that. Thirty billion rupees from the Asian Development Bank (ADB) and twenty billion rupees from the government have been allocated in this year’s budget to provide concessional loans for the development of the small and medium scale entrepreneurs.

With the second loan tranche of the International Monetary Fund (IMF) to be received very soon, the Sri Lankan government will have the opportunity to receive bilateral and multilateral financial assistance from the international financial market.

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