Sri Lanka state banks receive over 5,700 loan applications from rehabilitated youth for self-employment

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Fri, Jun 12, 2015, 08:39 pm SL Time, ColomboPage News Desk, Sri Lanka.
June 12, Colombo: Under a loan scheme set up by the Sri Lankan government for rehabilitated youth to obtain loans from state banks for self-employment, the state banks have received over 5,700 applications for future loans.
The Cabinet of Ministers has approved a proposal in the year 2012 to implement a self-employment loan facilities scheme to the rehabilitated trainees who had been involved in terrorist activities.
This loan scheme has provided a great opportunity for the rehabilitated trainee youths to successfully carry out their livelihood activities. It has also provided a great strength for them to make the necessary economic atmosphere to make themselves as respectable citizens in the society.
The amount of loans provided by the State Banks under this scheme up to 31st December 2014 exceeds Rs. 302 Million and the number of applications that had been submitted in anticipation of obtaining loans in the future exceeds 5,750, according to the government.
The reintegrated cadres have received vocational training as a part of the rehabilitation process to enable them to be self-employed.
A proposal put forward by the Minister of Rehabilitation and Hindu Religious Affairs D.M. Swaminathan to implement the 2nd stage of this scheme with necessary revisions and to implement the provision of loans through Bank of Ceylon, the People’s Bank, Lankaputhra Bank, and the Savings Bank of Sri Lanka has been approved by the cabinet
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