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    Divi Neguma Sahana Aruna begins September 1

    August 28, 2014

    In accordance with the Divi Neguma Development Department’s goal of eliminating poverty by empowering the people through livelihood improvement projects the Divi Neguma credit scheme will commence on September 1 under the theme ‘On-the-Spot-Cash’ (Esuru Senin Athata Mudal), said Minister of Economic Development Basil Rajapaksa at a press conference held today at the Auditorium of the Government Information Department. 


    This credit scheme will ensure credits up to a maximum of Rs.50,000 without guarantors on a special low interest rate of 4%.  The Minister pointed out that the objective of this scheme is to invest income from the village within the village and prevent people falling into debt by taking loans from financial institutions at high interest rates.


    It will cover 5 million families including 1.5 million Divi Neguma Development beneficiaries living in 35,440 villages belonging to 14,022 Grama Seva Divisions in the island.  They will receive credit scheme to meet their consumer requirements the same day the credit scheme applications are submitted. Loans for other needs will be given within three days after applications are submitted. The grace period for repayment of consumer loans is one year. Thereafter repayments should be made in 24 equal installments.  There is no age limit for obtaining loans. The Minister said that already Rs.13.5 billion has been allocated for this purpose.


    Low interest loans ranging from Rs.5000 to Rs.50,000 will be given to start self-employment projects under this scheme, which is activated through 1073 Divi Neguma Micro Finance Banks of the Divi Neguma Development Department in accordance with the Mahinda Chinthana Vision on the advice of President Mahinda Rajapaksa. 


    On September 1 ceremonies in this connection will be held at 1073 Micro Finance Banks in 327 Secretarial Divisions throughout the country parallel to the main event of the 'Divi Neguma Sahana Aruna' programme. 


    This loan scheme has been launched for the purpose of helping the beneficiaries to pay for the items and labour necessary for their livelihood development projects. Also these loans will help to meet emergency consumer requirements and the need to repay loans.  This is being done in addition to the micro finance credit facilities provided through Divi Neguma Community Banks and Bank Societies.


    Minister of Mass Media and Information Keheliya Rambukwella, Deputy Minister Secretary to the Ministry of Mass Media and Information Charitha Herath, Director General of Government Information Prof.Ariyarathna Athugala were present at the press conference.  (KH)

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    Last modified on Thursday, 28 August 2014 16:02

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