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Govt. to provide loans to help SMEs
The government would provide Rs 20 billion rupees in loans to assist small and medium-sized enterprises (SMEs) and other businesses affected by the economic downturn, cabinet spokesperson Bandula Gunawardena said on Tuesday.
Gunawardena told a press conference the programme would receive support from the Asian Development Bank (ADB).
Gunawardena said that both new and established businesses would have access to Rs 15 billion rupees in loans, and the remaining Rs 5 billion rupees would be allocated for the SMEs grappling with non-performing loans.
The loans would be distributed via authorised credit institutions, Gunawardena said.