Business
MOU signed for interest-free loans under Agricultural Modernization Program
The signing of the Memorandum of Understanding (MoU) for the provision of interest-free loans to agribusiness entrepreneurs and farmers under the first phase of the Agriculture Modernization Program took place today (22) at the Presidential Secretariat.
The MoUs were signed between the Bank of Ceylon, the Regional Development Bank who are the key contributors to the initial phase and Secretary to the Ministry of Agriculture and Plantation Industry Janaka Dharmakeerthi. Accordingly, MoU with the People’s Bank are expected to be signed in the near future.
In this first phase, Rs. 650 million has been allocated to implement projects through agricultural modernization centres in 26 Divisional Secretariat Divisions selected for the pilot projects. [a total of 75 DS divisions identified]
In the implementation of agricultural modernization projects within the DS divisions, more than 30% of the project costs are covered by agribusiness entrepreneurs and farmers, with the remaining 70% funded by the government.
To facilitate a revolving credit scheme, the government’s contribution, provided as an interest-free loan under the Agricultural Modernization Credit Scheme, can be recovered by a bank selected by the beneficiary from among the Bank of Ceylon (BoC), People’s Bank, and Regional Development Bank (RDB). A cabinet memorandum presented by President Ranil Wickremesinghe to establish and implement this system has been approved.
As a result, for selected and approved projects, interest-free loans will be paid to agribusiness entrepreneurs from funds deposited in an account in the name of the Secretary of the Ministry of Agriculture and Plantation at the Head Office of the Bank of Ceylon. Beneficiaries can choose between the Bank of Ceylon, People’s Bank, and the Regional Development Bank for their loan processing.
The loan concession period is up to 6 months, with a maximum repayment period of 5 years, including the concession period. The agriculture modernization centres determine the specific concession and repayment periods based on the loan amount and the nature of the project undertaken by the farmers or agribusiness entrepreneurs.
Commenting on the scheme, Agriculture and Plantation Industry Ministry Secretary Janaka Dharmakeerthi emphasized the need to shift towards production-oriented programs.
“We need to transform to production-oriented programs even now. Through this agreement, we aim to identify and support categories with production potential, providing them with the necessary facilities and transforming them into initiatives that will boost production in the future.
So far, we have tried to help people and increase production, but we have not yet reached our goal. Success is possible only if production is increased. We believe that the agricultural modernization program will lead to significant achievements. This program is crucial for reaching our long-term goals. Therefore, as a ministry, we are fully committed to supporting this initiative,” the Secretary explained.
Presidential Senior Adviser on Economic Affairs, Dr. R.H.S. Samaratunga,
The agricultural modernization program has been highlighted in two budgets presented by President Ranil Wickremesinghe. The agreement signed today marks a crucial step for its advancement. One of the program’s objectives is to allocate previously unused land to local entrepreneurs, fostering the development of export-oriented agriculture and establishing a commercial agriculture sector driven by local entrepreneurs.
Presidential Adviser on the Agriculture Modernization Project, Senior Prof. Gamini Senanayake, Senior Additional Secretary to the President (Agricultural Productivity and Land), Chandra Herath, Director (Agricultural Productivity and Land) A.A.C. Nilantha Perera, BoC Deputy General Manager R.M.N. Jeevantha, RDB Chief Executive Officer/ General Manager (Acting) E.A.D. Janitha Priyashantha and several other officials were present at the event.
Company stresses ambition to surpass this milestone
Eyes markets across Africa and beyond
In a groundbreaking achievement for Sri Lanka’s IT and electronics manufacturing industry, EWIS Colombo Ltd, the country’s first and only local computer manufacturer, has successfully exported its first consignment of locally built laptops to Zimbabwe.
This landmark event not only positions Sri Lanka as an emerging force in global IT hardware manufacturing but also highlights EWIS’s commitment to innovation, quality, and excellence on the international stage.
This historic shipment, dispatched from EWIS’s state-of-the-art manufacturing facility in Samajasewapura, Sooriyawewa, underscores the company’s dedication to delivering world-class technology solutions. With over 11 years of expertise in manufacturing and assembly, EWIS Colombo Ltd has played a pivotal role in driving Sri Lanka’s ICT sector forward. As a Board of Investment (BOI) Section 17-approved company, EWIS has established the country’s first and only local computer manufacturing plant, paving the way for the nation’s growth in high-tech exports.
Speaking on this momentous achievement, Sanjeewa Wickramanayake, Chairman of EWIS Colombo Ltd, said: “This milestone is not just for EWIS but for Sri Lanka as a whole. It proves that our country has the talent, capability, and ambition to manufacture and export high-quality IT products, competing confidently on the global stage. As we continue expanding beyond local markets, we take immense pride in showcasing Sri Lanka’s excellence in technology and innovation to the world. EWIS’s commitment to world-class quality is reinforced by its ISO 9001:2015, ISO 14001:2015, CE, FCC, and RoHS certifications, ensuring compliance with international quality, safety, and environmental standards.”
Speaking further he said:
“For nearly four decades, EWIS has been a trailblazer in Sri Lanka’s ICT sector, delivering cutting-edge solutions for education, businesses, and government enterprises.
With over 11 years of local manufacturing and assembly expertise, EWIS has continuously refined its capabilities to produce high-quality, internationally competitive IT hardware. The successful export to Zimbabwe represents a bold step toward expanding EWIS’s global footprint, reinforcing Sri Lanka’s potential as a world-class technology and manufacturing hub.”
The International Institute of Health Sciences (IIHS), a pioneer in healthcare training for over 23 years, has partnered with the University of Surrey, UK, to revolutionise healthcare education in Sri Lanka and the broader South Asian region. This will create a world-class academic pathway for aspiring nursing and healthcare professionals, as well as young individuals seeking careers in the field. Under this agreement, IIHS and the University of Surrey will introduce a series of academic initiatives to enhance healthcare training and accessibility.
These include delivering internationally recognised nursing programmes that allow Sri Lankan and regional students to earn globally competitive qualifications in Sri Lanka.
Commenting on the move, Dr. Kithsiri Edirisinghe, CEO & Dean of Undergraduate Studies at IIHS, said: “This MOU marks a significant step in our mission to deliver world-class healthcare education to Sri Lanka and the region. IIHS remains dedicated to shaping the future of healthcare professionals and fostering global healthcare leadership.” Dr. Shelini Surendran, Associate Dean (International) at the University of Surrey, emphasised: “Sri Lanka is establishing itself as a regional education hub, and this partnership ensures students across Asia can access top-tier UK healthcare education at IIHS. By bridging academic excellence with accessibility, we provide students with a clear pathway to their professional goals.”
Dialog Television, Sri Lanka’s #1 Pay-TV service provider, has partnered with Emerging Media to enhance the convenience and effectiveness of advertising. This collaboration brings together Dialog Television’s world-class entertainment, featuring 18 advertisable channels across genres such as movies, edutainment, kids, music, sports, and local content, with Emerging Media’s expertise in digital advertising and targeted marketing. This synergy creates a seamless platform for businesses to maximize brand exposure across multiple channels.
With a reach of over 1.7 million households, Dialog Television provides advertisers with a powerful avenue to engage diverse audiences. Brands can place advertisements on leading international and local channels such as &flix, Star Movies, TLC, Animal Planet, AXN, Zee Café, Comedy Central, Star Plus, A+, Nickelodeon, Star Vijay, Zee Tamil, Star Sports, Ten Cricket, Sony SIX, ThePapare TV, Channel One, Citi Hitz and Channel C. Through this partnership, Emerging Media will facilitate advertising sales, allowing businesses to target specific viewer segments while simplifying the media buying process with a single point of contact.
Commenting on the partnership, Lim Li San, Group Chief Operating Officer at Dialog Axiata PLC, stated, “As Sri Lanka’s premier Pay-TV service provider, we serve more than 1.7 million households with over 6 million pairs of captive eyeballs across Sri Lanka. Today, we are excited to embark on this partnership with Emerging Media to avail our Dialog Television platform and brand strength to provide quality advertisement exposure and customer engagement to local businesses across Sri Lanka.”
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