Government Promotions towards Solar Power Generation

Jaya Isura ( ADB FUNDED)
   
The main objective of this loan scheme is to empower the small and medium scale enterprises including agriculture, fisheries, livestock, floriculture, horticulture, light engineering, printing, tourism, handicrafts, garments, information technology and production industry based on the their trade turnover and to increase the number of job
opportunities created.
Accordingly, small entrepreneurs engage in the above fields and whose annual turnover is from Rs. 25 million to Rs. 250 million with 10-50 of employees can obtain a loan liable Rs. 50 million maximum limit and loan recovery period of 5 years. If these entrepreneurs engage in export market they can obtain a loan up to maximum limit of Rs. 100 million. As the 50 percent of the interest is paid by the government the interest rate to be paid by the party that obtains the loan is 6.54 percent.
Accordingly, small entrepreneurs engage in the above fields and whose annual turnover is from Rs. 250 million to Rs. 750 million with 51-100 numbers of employees can obtain a
loan liable Rs. 200 million maximum limit and recovery period of 5 years. If these entrepreneurs engage in export market they can obtain a loan up to maximum limit of Rs. 400 million. As the 25 percent of the interest is paid by the government the interest rate to be paid by the party that obtains the loan is 9.81 percent.
Facilities have been provided for granting loans by Bank of Ceylon, Peoples’ Bank, Regional Development Bank, Lankaputhra Development Bank, Sri Lanka Savings Bank, Hatton National Bank, Commercial Bank and Sampath Bank. The government has allocated Rs. 750 million for the year 2017 for the payment of interest subsidy.

50% OF THE INTEREST PAID BY THE GOVERNMENT

Loans are granted to promote solar energy aiming at converting every housing unit as a solar unit under the “SOLAR SUPPLY” programme of the government and the house owners can supply their energy requirement at a lower cost while earning an additional income by selling the energy generated by the solar cells in their houses. It is expected to convert 1,000,000 housing units to solar power units under this scheme and maximum amount of Rs. 350,000 is provided for a house owner. For more information 
please go to this link: Sri Lanka Solar

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