Concessionary loans for LG bodies to uplift infrastructure

MEERIGAMA: The Ministry of Local Government and Provincial Councils is presently implementing a new programme of providing loans on concessionary rate of interest to local authorities islandwide to improve infrastructure facilities.

The credit programme is implemented through the Local Credit and Development Fund established under the Ministry.

Accordingly, the Meerigama Pradeshiya Sabha received a loan of three million rupees for the construction of a crematorium in the Meerigama General Cemetery, while Agalawatta Pradeshiya Sabha received Rs.2.5 million to develop facilities in the Rural Weekly Fair of Agalawatta.

The Local Credit and Development Foundation has provided loan facilities to local bodies to the tune of Rs.28 million during the year 2005, while by June, 2006 it has granted loans amounting to Rs.33 million to five Pradeshiya Sabhas and three Urban Councils.

These loans on concessionary rate of interests are meant to be spent on improvement of infrastructure facilities such as drinking water supply, offices and rest houses, economic centres and crematoriums in rural areas.