Bulk of SME recovery funds to N-E

Cabinet Spokesman Minister Nimal Siripala de Silva said nearly 41 per cent of the total amount of Rs.270 million spent by the Government so far to assist medium scale Tsunami affected entrepreneurs has been granted to North-East entrepreneurs to rebuild their industries affected by last year's tsunami.

With ADB assistance, the Government was able to provide a large quantum of funds to medium scale industrialists in the North-East areas to recommence their industries, the Minister told the weekly Cabinet press briefing yesterday.

The funds provided by the ADB to the National Development Trust are given as concessionary loans to medium scale entrepreneurs to rebuild their industries damaged by the tsunami.

Nearly Rs. 270 million has been used so far to assist such entrepreneurs, out of which 41 per cent have been disbursed to North and East, he added.

"This is a positive scenario where the Government has given much concessions to the entrepreneurs in the North and East," he said.

UK and MF