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Concessionary loans for Mahaweli settlers

Dec 10, 2010 6:18:12 AM - itnnews.lk

A concessionary credit scheme has been launched for the settlers of the Mahaweli Zone. The scheme is expected to uplift the standard of living amongst them.

The scheme will be implemented jointly by the Sri Lanka Mahaweli Authority and the Regional Development Banks. The agreement was signed recently. A notable feature is providing credit on a declining percentage of interest corresponding to the reduction in the credit balance. The project expects to improve the additional income channels of the Mahaweli settlers and strengthen their economy. The project was launched as a solution to the unemployment problem faced by the second and third generations of settlers living in the Mahaweli Zone and to provide them additional income.