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CB sponsored credit programmes disburse 4.6 billion rupees to the North

Jul 19, 2011 8:26:11 AM - itnnews.lk

Central Bank sponsored credit programmes have disbursed 4.6 billion rupees to the conflict-affected people and businesses in the Northern Province to uplift people’s lives and promote income generating activities in the region. This has been possible since the end of the humanitarian operation against the LTTE in May 2009.In a statement, the Central Bank said it had allocated three billion rupees in a separate credit line named “Awakening North” exclusively designed to meet the requirements of conflict affected businesses and income generating activities in the Province. The Bank has also introduced a special Credit Guarantee Scheme to promote development credit through Participating Financial Institutions. In addition, the monetary authority has extended activities under Poverty Alleviation Microfinance Project ‘Prabodini’ to the Jaffna Peninsula in 2009. The Central Bank is to open a Project Regional Office in Jaffna under Poverty Alleviation Microfinance Project ‘Prabodini’ tomorrow.