More than 5,000 Lankan industries secure Rs 5 bn green fund jackpot | Daily News

More than 5,000 Lankan industries secure Rs 5 bn green fund jackpot

Minister Rishad Bathiudeen with Ministry Secretary KDN Ashoka and State Minister Champika Premdasa witnesses green loan agreement by the Ministry with one of the credit institutions (BoC-reps) in Colombo.
Minister Rishad Bathiudeen with Ministry Secretary KDN Ashoka and State Minister Champika Premdasa witnesses green loan agreement by the Ministry with one of the credit institutions (BoC-reps) in Colombo.

More than 5,000 Sri Lankan industries have secured country’s first large scale green funding initiative aimed solely at their manufacturing sector-including the SME industries and a massive Rs 5 bn in funds are to be channelled through 11 leading financial institutions-which includes nine commercial banks.

“Many industries including small and micro industries did not receive sufficient funds and did not have pollution control measures.

The SMILE Loans help the industries and industrial entrepreneurs to commence their green initiatives and perform environmentally friendly steps,” said Minister of Industry and Commerce Rishad Bathiudeen on Wednesday.

He was addressing the Environmentally Friendly Solution Revolving Fund Loan Scheme organized by the Project Management Unit under his Ministry. In this first ever green financial industry initiative in Sri Lanka, each qualifying industry is entitled to get a maximum loan of Rs 30 Million at a low interest of only 6.5% in the next 3-5 years. 


 

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