FCCISL moots 'back to business' loan scheme for SMEs

Shirajiv Sirimane reporting from Kandy

A program to get back to business over 10,000 tsunami affected micro and small entrepreneurs has been presented to the donor community by the Federation of Chambers of Commerce and Industry (FCCISL).

The program 'Back to business' at an estimated cost of Rs. 500 million aims to provide loan facilities, equipment, technical assistance and training to tsunami affected businesses from Jaffna to Hambantota enabling them to re-commence their business.

The assistance from the FCCISL includes providing equipment such as motor cycles and cool boxes for fishermen, fishing gear, technical, logistical support and collateral for financing.

Secretary General of the FCCISL, Samantha Abeywickrama said the loans are to be provided through the rural banking network. The loans would range from RS. 15,000 to Rs. 250,000.

The implementation would be coordinated through the Small and Medium Enterprise Development (SMED) and training from the German funded Koblenz Chamber, both affiliated to the FCCISL.

The FCCISL has 46 regional Chambers with Chambers in the North East which makes the program coordination even easier. "The FCCISL has set up help desks in all their regional chambers to provide assistance and guidance," he said. The FCCISL has undertaken an in depth study to assess the tsunami economic damage and setting up help desks spending Rs 2million.

Abeywickrama said he would be presenting a copy of the 'back to business' program to each member at the donor conference in Kandy yesterday.

According to the President of the FCCISL Nawaz Rajabdeen, the donor community has already pledged Rs. 50 million and some programs are already under way. He said after the tsunami economic rehabilitation too is a priority. Sweden, Netherlands, USAID, Rome based IFAD and other bilateral donor agencies are satisfied with the FCCISL proposals.