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Pres & PM directs all banks to suspend SME loan recovery

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banks to suspend SME loan recovery

Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa have issued directives to all Chairmen and CEOs of all banks to suspend the recovery of loans obtained by the Small and Medium-sized Enterprises (SME) sector.

The Government has decided to revive SMEs with a debt of less than Rs.300 million. The recently annouced tax reform initiatives by the Government will be providing substantial savings to all banks including the Central Bank of Sri Lanka (CBSL). It has been expected from the banks to use part of such savings to revive the SME sector on a priority basis.

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