{"id":103871,"date":"2020-06-24T14:03:33","date_gmt":"2020-06-24T21:03:33","guid":{"rendered":"http:\/\/www.lankaweb.com\/news\/items\/?p=103871"},"modified":"2020-06-24T14:03:33","modified_gmt":"2020-06-24T21:03:33","slug":"central-bank-approves-rs-28-billion-loans-for-businesses-affected-by-covid-19","status":"publish","type":"post","link":"https:\/\/www.lankaweb.com\/news\/items\/2020\/06\/24\/central-bank-approves-rs-28-billion-loans-for-businesses-affected-by-covid-19\/","title":{"rendered":"Central Bank approves Rs. 28 billion loans for businesses affected by COVID-19"},"content":{"rendered":"<h2><span style=\"color: #0000ff;\"><em>Courtesy Adaderana<\/em><\/span><\/h2>\n\n\n<p>Having identified the urgent need of reviving the businesses adversely affected by the COVID-19 outbreak and thereby to promote economic activity in the country, the Central Bank and the Government of Sri Lanka launched a novel refinance facility under the Saubagya (Prosperity) Loan Scheme, as announced today (24).<\/p>\n\n\n\n<p>The Central Bank has approved 13,861 loan applications under the Phase-I of this Scheme, named Saubagya Covid-19 Renaissance Facility, totaling Rs. 27.9 billion, out of which the licensed banks have already disbursed Rs. 14.8 billion among 7,274 affected businesses island-wide as of 24 June 2020.&nbsp;<\/p>\n\n\n\n<p>These loans carry a concessional interest rate of 4 percent (p.a.) with a grace period of 6-months and a repayment period of 24-months, the central bank said.<\/p>\n\n\n\n<p>Further, the Central Bank now stands ready to provide further Rs. 120 billion at a concessionary rate of 1 percent (p.a.) to commercial banks for on-lending to the affected businesses at a concessionary rate of 4 percent (p.a.) under the Phase-II of the Scheme.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Courtesy Adaderana Having identified the urgent need of reviving the businesses adversely affected by the COVID-19 outbreak and thereby to promote economic activity in the country, the Central Bank and the Government of Sri Lanka launched a novel refinance facility under the Saubagya (Prosperity) Loan Scheme, as announced today (24). The Central Bank has approved [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,102],"tags":[],"class_list":["post-103871","post","type-post","status-publish","format-standard","hentry","category-business","category-economy"],"_links":{"self":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/103871","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/comments?post=103871"}],"version-history":[{"count":0,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/103871\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/media?parent=103871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/categories?post=103871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/tags?post=103871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}