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'NDTF should seek new avenues to extend micro credit'

The National Development Trust Fund (NDTF) should further strengthen its links with Non Governmental and Community based organisations to seek new avenues to extend its micro credit activities on a broad perspective, said Charitha Ratwatte, Secretary to the Treasury and Ministry of Policy Development and Implementation when he addressed the Board of Trustees of the NDTF at a meeting held recently. Chairman of the Fund M. D. D. Peiris presided.

Mr. Ratwatte speaking further emphasised the need of obtaining the support of International Agencies by the NDTF for the expansion of credit facilities as well as developing human resources and upgrading small scale entrepreneurship.

Chairman of the Fund M. D. D. Peiris welcomed the five new members of the Board of Trustees appointed by the President who is the patron of the Fund on the recommendation of the Prime Minister who is also the Minister of Policy Development.

The new members are Dr. (Mrs) Priennie C. J. Ranatunga, G. D. R. de Silva, M. M. Rafeek, Rajaratnam Subramaniam and Ms. Rohanthi Perera.

The NDTF which is the former Janasaviya Trust Fund now operates under the purview of the Ministry of Policy Development and Implementation.

A NDTF press release said 120 NGOs and Community Based Organisations are presently working as partner organisations of the NDTF in the disbursement of micro-credit to over 300,000 beneficiaries. Last year the NDTF issued a record Rs. 338 million to partner organisations under this program and recovered a record Rs. 205 million in the form of repayment of loans and interest. This accounts to a loan recovery rate of 87.4 percent.

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