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By Shirajiv Sirimane

The two newly formed North Western and Central Economic Commissions will sign agreements for new BOI projects for the region, on March 19, the day of the official opening of the commissions in Kurunegala and Kandy. The Chairman of the two Economic Development Commissions Lalith Kotelawala said that he will sign 10 projects. "In addition there are more projects in the pipeline."

Kotelawala said the Commission has also decided to provide immediate financial assistance to develop tanks in the area. "We have earmarked seven tanks to be developed under this programs."

The new Chairman said that 80% of the Sri Lankan migrant workers are from the North Western Province and the new commission will launch a series of programs targeting these workers. "We are hoping to open a school to educate these migrant workers before they leave for overseas employment."

Kotelawala said that the NWP and the Central Commissions will not depend on the government for funds. "We have our own agenda to develop these two areas."

The Chairman also said that among their first priorities would be the bumper paddy harvest. "We have some exciting plans for this."

He said that another priority would be promoting self-employment projects. "We are hoping to assist in obtaining soft loans for this."

When asked what would be the difference between the loans obtained by the commission and the Bank he said that unlike a bank the commission would provide loans on a partnership basis. "We are not looking at high security or big interest. We will not act like a money lender."

He also said that he would give approval for a new venture within seven days and later would assign a person from the commission to assist the new investor. "We do not want to be a rubber stamp organisation."

"Suraj Dandeniya, Director General of the NWP commission said that they are also planning to educate the local investors on new marketing techniques. "We want more small time entrepreneurs to join us and we will maintain top transparency in all our dealings," he said.

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