Rs 1 b boost for Northern banks

Anura MAITIPE

The government has taken initiatives to provide Rs 1 billion to expedite banking activities in the Northern Peninsula to support on-going livelihood activities of displaced people. This was revealed by Central Bank Governor Ajith Nivard Cabraal at the opening ceremony of the Seylan Bank Branch office at Nelliaddi in Jaffna.

He said: "the prime task of the government is to expedite the development process in the North which has not been improved for the past 30 years.

It is time for us to help the war-affected people in the North to re-gain their lost values, pride and properties."

The Government will allocate Rs. 1 billion through banks in the North to meet this target, he said. These funds will be made available to banks in the North to grant quick loans to people to enhance their livelihood development activities such as agriculture, fisheries, livestock development and small-scale industries. As initiatives have been taken to set up a Central Bank Branch office in the East to facilitate the business community and another branch in Kilinochchi to facilitate the business community in the North, he promised. All Northern Province Bank Managers were present.

Deputy Central Bank Governor Rani Jayamaha and Government officials participated.