News
CBSL approval not required for US-funded lending operations in SL
HNB, JKH to disburse USD 4 mn
By Shamindra Ferdinando
Approval of the Central Bank of Sri Lanka (CBSL) was not required for the launch lending schemes here with overseas funding, a senior official said yesterday when he was asked whether the Hatton National Bank (HNB) and John Keells Holdings (JKH) had obtained CBSL approval for lending USD 4 mn to micro, small and medium-sized enterprises (MSMEs) in the food sector made available by the US.
The US Embassy, in a statement, dated Dec. 29, called the USAID-funded lending operation an innovative supply chain facility meant to disburse capital through Keells Supermarkets and HNB. Asked whether regulatory authorities monitored such schemes, the official stressed that “money
lending is not a regulated activity though deposit taking from the public comes under the purview of the CBSL.”
According to the US Embassy, this facility would provide MSMEs with competitive fixed interest rate financing. “The facility lent a total of USD 430,000 to eight suppliers in its first weeks of operations. The partnership plans to support approximately 100 MSMEs to obtain USD 4 million worth of credit over six months,” the embassy said.
The official said that current laws and regulations did not in any way hinder such lending operation. The statement quoted Gabriel Grau, the USAID/Sri Lanka and Maldives Mission Director as having said: “Sri Lankan enterprises face increasing pressures due to recent global supply chain disruptions, high energy costs, volatile inflation rates, and economic instability. This supply chain financing facility alleviates some of the pressures and enables MSMEs to optimize their working capital.”
According to recent statements issued by the US embassy, WFP et al as well as Parliament, the USAID has provided funds for several initiatives ranging from fertilizer to awareness programmes for primary school children.
Political sources told The Island that in the wake of the last presidential election in Nov 2019, the USAID had declared its intention to step up operations here. The then President Gotabaya Rajapaksa in June 2021 discussed the status of USAID projects in Sri Lanka with Reed J. Aeschliman, senior official in charge of their Sri Lankan Office. They had agreed to accelerate the development projects, sources said, adding that the continuing crisis here has paved the way for accelerated interventions.
Latest News
Let us dispel the roots of greed, hatred, and delusion, and transform our lives into a nobel period that brings peace and serenity – PM
Prime Minister Dr Harini Amarasuriya in her Vesak day message called upon all Sri Lankans to dispel the roots of greed, hatred, and delusion, and transform their lives into a nobel period that brings peace and serenity
The Prime Ministers Vesak day message:
“It is an honor to extend Vesak day felicitations to all citizens of the nation during this sacred period in which lives are shaped in accordance with the noble teachings preached by Lord Buddha, and upholding the practice of Dhamma.
Just as the external world is illuminated by lanterns, this Vesak season should also be an opportunity to illuminate our own hearts with compassion, kindness, and wisdom. Let us dispel the roots of greed, hatred, and delusion, and transform our lives into a nobel period that brings peace and serenity.
“abhittharetha kalyāṇē” – Let us hasten towards the common good. The theme for this year’s State Vesak festival reflects the social needs of the present time. While eliminating narrow beliefs and mindsets, this Vesak festival should become a source of blessings and strength for us to build a nation dedicated to the common good and radiant with the values of the Dhamma.
Followed by the guidance of the Mahanayake Theros and the All Island Sasanarakshaka Mandalaya, I extend wishes for the State Vesak Festival, jointly organized by the Ministry of Buddhasasana, Religious and Cultural Affairs and the Ministry of Public Administration, Home Affairs, Provincial Councils and Local Government.
Through the deep bond that exists between the state and” Buddhism, the progress and prosperity of the country can be achieved through righteous governance. It is essential that we cultivate the patience needed to overcome the economic and social challenges we face as a nation, founded on the noble ideal of “May all beings be well, happy and at peace” where justice is ensured for all regardless of caste, race, or religion.
I respectfully invite all of you to join in celebrating an environmentally conscious and nature-friendly Vesak, walking the Middle Path. Let us move forward together towards a society grounded in principled conduct.
May everyone be blessed with a peaceful and meritorious Vesak!
News
Prime Minister and United Nations Resident Coordinator discuss post-Ditwah recovery and humanitarian cooperation
Prime Minister Dr. Harini Amarasuriya met with the United Nations Resident Coordinator in Sri Lanka, Marc-André Franche, at Temple Trees on Friday (29 May) to discuss post-Cyclone Ditwah recovery efforts and continued humanitarian cooperation between Sri Lanka and the United Nations.
Particular attention was drawn to the Humanitarian Priority Plan (HPP), launched in December 2025 to support communities affected by the cyclone. The initiative concluded on 30 April 2026 after providing humanitarian assistance to vulnerable populations across 25 districts through the collective efforts of 81 partner organizations.
The discussions highlighted the Government recognized the substantial international support mobilized through the HPP and noted the importance of sustained collaboration to ensure that recovery gains are maintained.
During the discussion the United Nations delegation formally presented the latest SRI LANKA Cyclone Ditwah Situation Report to the Prime Minister.
(Prime Minister’s Media Division)
Latest News
Further embrace the values of Buddhism founded upon non-violence, compassion and boundless loving-kindness towards all living beings – President
President Anura Kumara Dissanayake in his Vesak day message called upon all Sri Lankans to further embrace in their lives the values of Buddhism founded upon non-violence, compassion and boundless loving-kindness towards all living beings.
The full text of the Presidents message:
The Vesak festival, which commemorates the three pivotal milestones in the life of Lord Buddha: his birth, his attainment of enlightenment, and his passing (Nirvana), is the most sacred celebration for Buddhists across the world. The people of Sri Lanka, heirs to a proud culture enriched by Buddhist heritage, join Buddhists worldwide in devoutly observing this noble occasion.
Buddhism is the greatest philosophical teaching to have conveyed to the entire world a timeless and practical message of peace. The entirety of the Dhamma preached by the Gautama Buddha is founded upon the Four Sublime Virtues of loving-kindness, compassion, empathetic joy and equanimity.
Furthermore, peace, coexistence and reconciliation constitute the supreme teachings expounded not only by the Buddha but also by all enlightened teachers. Buddhism teaches that, in order to establish peace in the external world, inner spiritual peace within the individual must first be secured. We must recognise that this inward and peaceful approach, as advocated by Buddhism in guiding society towards collective noble objectives, is more relevant today than ever before. I believe that this was also the message brought to Sri Lanka recently by the Vietnamese monk Venerable Pannakara Thero, who undertook a pilgrimage on foot across the country.
Moreover, the celebration of Vesak is not merely a religious observance, but also a magnificent cultural festival that has, for thousands of years, reflected Sri Lankan identity, solidarity and artistic creativity. It is indisputable that the programmes organised alongside Vesak celebrations, giving prominence to acts of religious observance such as almsgiving, the observance of sil, meditation and Dhamma sermons, as well as the devotional offerings and festivities including dansals, Buddhist devotional songs, beautifully crafted lanterns and splendid pandals, greatly contribute towards fostering mutual understanding, reconciliation and coexistence among communities.
Inviting all people to further embrace in their lives the values of Buddhism founded upon non-violence, compassion and boundless loving-kindness towards all living beings, I extend my heartfelt wishes for a blessed Vesak festival in which all hearts may find peace, comfort and serenity through the soothing grace of the Dhamma.
-
News7 days agoAll-New GRAVITE launches at LKR 6.99 Mn
-
Features7 days agoThe NPP’s pivot to the past
-
News6 days agoPolice probe underway to ascertain links between criminals deported from UAE and local politicians
-
News5 days agoEaster Sunday carnage: Court told Maulana’s statement cannot be accepted without cross-examination
-
Features7 days agoEnd of Peacekeeping
-
Opinion5 days agoUndermining the democratic political framework
-
News5 days agoUK passport holder hiding here wants to have deportation order rescinded to leave without blemish
-
Features2 days agoThe Division Bell Mystery
