Играйте в Вавада онлайн и выигрывайте крупные суммы вместе с нами.

CBSL implements Credit Guarantee & Interest Subsidy Scheme for businesses

Jun 28, 2020 (LBO) – Sri Lanka's Central Bank has decided to implement a Credit Guarantee and Interest Subsidy Scheme to accelerate lending by banks to businesses adversely affected by the COVID-19 pandemic.

The Monetary Board of the Central Bank, at its meeting held on 26 June 2020 has decided that this scheme, which will be launched on 01 July 2020, will operate in parallel with the Saubagya COVID-19 Renaissance Facility.
buy xenical online buy xenical online no prescription

This new facility has been approved by the Monetary Board under Section 83 of the Monetary Law Act, within the already announced threshold of Rs. 150 billion.

Under this Scheme, the Central Bank will provide a credit guarantee to banks, ranging from 80 percent for smaller loans to 50 percent for relatively large loans, enabling banks to grant loans to address the working capital requirements of the affected businesses.

With the Central Bank absorbing a significantly higher percentage of the credit risk, banks can extend their lending to vulnerable businesses focusing on the viability and cash flows of such businesses rather than collateral.

"Banks are expected to use their own funds, particularly the additional liquidity of close to Rs. 180 billion provided by the Central Bank through the cumulative reduction in the Statutory Reserve Ratio (SRR) of 300 basis points thus far during the pandemic period, to grant loans at 4 percent to businesses," the Central Bank said.

The Central Bank added that they will provide an interest subsidy of 5 percent to cover the cost of funds of banks. Operating instructions on this scheme to be issued to banks in immediate due course.

Notify of
Inline Feedbacks
View all comments
Would love your thoughts, please comment.x