Banks must boost Divi Neguma - Minister Devananda

Traditional Industries and Small Enterprise Development Minister Douglas Devananda stated that it's the responsibility of the banking and other lending institutions to extend financial assistance to the industries related to the Divi Neguma project, a strong pillar in Mahinda Chinthana Vision for the Future programme.

Traditional Industries and Small Enterprise Development Minister Douglas Devananda speaking at the discussion

The Minister said so participating at the discussion the departmental at Heads of the Central Bank of Sri Lanka had with other financial institutions at the auditorium of the Central Bank, on Monday.

The discussion was attended by Senior Minister A.H.M. Fowzie. At the commencement of the discussion, the Governor of the Central Bank, Ajith Nivard Cabraal and the Secretary to the Ministry of Traditional Industries and Small Enterprise Development, S. Sivagnanasothy pointing out as to what caused the discussion to take place, stated that as set out in the budget proposals for the 2011, one million home gardens, livestock, poultry, fisheries and one million domestic economic units were in progress, but by the 2012 budget proposals this quantity had been increased to 2.5 million.

They also said that for generation of employment opportunities, creation of entrepreneurial culture, support for lagging regions, the Divi Neguma programme, a strong pillar in Mahinda Chinthana Vision for the Future, was being implemented under five line ministries, including the Ministry of Traditional Industries and Small Enterprise Development.

Minister Devananda, at the discussion while emphasizing the necessity of deviating from the normal practice of lending, requested the lending institutions to resort to an alternative arrangement to accommodate the emerging industrialists under the Divi Neguma programme to enhance the earning capacity of the pepole.

The Samurdhi Bank needed to be in the forefront in this endeavour, the Minister added.

It was revealed at the discussion that through exhibitions, trade fairs and training programmes held in districts like Colombo, Gampaha, Kegalle, Jaffna and Puttalam, a large number of people had been encompassed in this programme to avail themselves of the envisaged benefits to better their lives.

Additional Secretary to the Ministry of Traditional Industries and Small Enterprise Development Adhikari, officials of the Central Bank, officials of Ceylon Industrial Development Board and officials of National Design Centre and heads of banking institutions participated in this discussion.