First island-wide cash credit across 14022 GNs

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โ€˜Five million families benefit thanksย to Basilโ€™-Rishad

  • Praises Econ Development Ministerโ€™s initiative for poor
  • First island-wide cash credit across 14022 GNs

More than five million poor families are set to benefit from governmentโ€™s latest micro credit initiative launched island-wide on 01 September-rewarded with no less than spot cash. โ€œIt is thanks to Economic Development Minister Basil Rajapaksa that Divi Neguma scheme arrived in Mannar for the first time. Todayโ€™s launch of Divi Neguma Credit Scheme will allow loans up to Rs. 50,000 without guarantors, at a very low interest rate of 4%-and direct cashโ€ said Rishad Bathiudeen (Minister of Industry and Commerce and MP, Vanni) on 01 September in Mannar.


 01SEPT1

Minister Bathiudeen was addressing the Mannar launch event of the island-wide Divi Neguma Credit Scheme on 01 September. The Divi Neguma Credit Scheme, initiated by Economic Development Minister Basil Rajapaksa, will allow loans up to Rs. 50,000 without guarantors for five million families, at a very low interest rate of 4% and more than 14022 GN divisions in Sri Lanka. Five million families in 35440 villages of Sri Lanka will be beneficiaries of this direct cash program. At this Mannar event, Minister Bathiudeen distributed cash grants ranging from Rs 5000-25000 to 25 selected families in Mannar DS Division.

 

โ€œI have been working with Minister Basil since 2005 and he is one of the most hard working Ministers in the government I have ever associated with. I have not come across any other Ministers who commit to development like Minister Basil. His activities span a wide scope โ€“from high level FDI and investments in urban areas to livelihood assistance for the rural poorโ€ said Minister Bathiudeen, addressing the gathering, and added: โ€œTherefore people of all walks of life benefit from his efforts. Working with the private sector Minister Basil is targeting to double countryโ€™s hotel room capacity to 50,000 by 2016. He targets 2.5 million tourists by 2016 with revenue of $ 2.75 B. Minister Basil is keen to see tourism industry employment to double to 500,000. He is also a government Minister to serving the Northern Province most despite his own voters are elsewhere. It is thanks to him that Divi Neguma scheme arrived in Mannar for the first time. Todayโ€™s launch of Divi Neguma Credit Scheme will allow loans up to Rs. 50,000 without guarantors, at a very low interest rate of 4% for the villagers in Mannar and more than 14000 GN divisions in Sri Lanka. Five million families in more than 35000 villages will be covered by todayโ€™s program. Today I call upon you, all the recipients of this benefit, to make the maximum from this first ever direct cash initiative by the government to invest and develop your enterprises and standard of living further.โ€

 

Top administrative officials including officials from Samurdhi Office of Mannar too participated at the 01 September event.