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Rs. 800 m loan scheme for agro based industries

by Anura Maitipe

The DFCC has provided over Rs 800 million credit to medium and small scale entrepreneurs in the North Western province under concessionary terms of repayment, a spokesman for the DFCC told the Daily News yesterday.

The spokesman said that the loans are repayable within a period of 5 to 10 years with a 6 month grace period, and concessionary interest at 14 percent.

The disbursement of soft loans is channelled through the Bank of Ceylon, People's Bank, Cooperative Bank and Sanasa Bank.

Over 1,200 entrepreneurs have been helped to start up their own industries creating over 5,000 employment opportunities in the North Western Province, sources said.

Apart from the DFCC Head Office in Colombo, the Kurunegala Branch has become the second largest provider of these loans among the Chain of DFCC Banks in the country. Over 85 percent of loan recipients in the North Eastern province have utilised these funds in a fruitful manner without defaulting of repayment, sources added.

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