modernization Archives - Ceylon Independent

The Ministry of Finance says that it will create a credit scheme with the allocation of 15 billion rupees in target sectors for low interest loans to fund modernization and expansion of enterprises. The new loan scheme will have a interest rate of 6.5 percent and in some cases 3.3 percent, Mangala Samaraweera, Finance minister said. Many young entrepreneurs and SMEs have innovative business ideas but find it difficult to make it viable at prevailing interest rates of 15 percent and above. “In parallel, a SME guarantee fund is also being set up to enable SMEs with sound business plans to access credit without collateral,” “A Development Bank with an Exim window will provide development capital in the form of long term loans, project lending, and start up financing.” These new...

Sri Lanka’s transport sector experts questioned the need for an expensive four lane expressway with interchanges which will create its own problems of increasing congestion in and around Kandy. Mechanical Engineering Sectional Committee of the Institution of Engineers in association with the Sri Lanka Society of Transport & Logistics recently held a panel discussion on expressways. The panel comprised of Prof. Amal S. Kumarage, retired GM of Railways Priyal de Silva and railway consultant Ranjith L. Dissanayake. This discussion was intended at raising awareness on least cost and sustainable mobility solutions as alternatives to expressway building. The panel recommended the government to construct only a 2 lane highway from Pothuhera to Galagedera saying it can reduce cost ...

Tag: modernization

Sri Lanka to give Rs.15Bn as concessionary loans to target sectors: Finance minister

Railway development, viable alternative to costly Central Expressway