The Ministry of Finance and Economic Policy Development in a statement with regard to various media reports, say that the present loan schemes offered on concessionary rates should be revised to suit current priorities of the economy.
“The Government clearly recognizes that the incentives (concessionary interest rate loans) offered for SMEs should continue. “They contribute to the national economic development and are a major factor that has a positive bearing on the country’s economic growth.
However, the government’s position is that that these concessionary interest rate loans must be properly identified and implemented.
Therefore, the Ministry of Finance, Economic and Policy Development has decided to review and reorganize these loan schemes in compliance with the new government’s policies and to identify key sectors of the economy, while increasing its contribution to the national economy.
Accordingly, the Government after a comprehensive study, would take steps to re offer these loan schemes, covering a wider range of areas to strengthen SME investment objectives.
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