Promise Tracker

Interest free loan scheme to finance small business ventures

Budget Speech para. 332: "Allocate Rs. 1 million per one Grama Niladhari division through the District Development Committee (DDC) to commence an interest free loan scheme to finance the small business ventures initiated by a group of at least 50 self-employed youth. Such groups must be registered with the DDC. Such business ventures could include Agriculture, Handicrafts, Mushroom Farming, Trading, Ornamental Fish Industry, Horticulture and Floriculture, etc. Allocate Rs 7,000 million for the first phase of this venture. It is envisaged this will create a minimum of 350,000 self-employment opportunities especially for youth. This will complement the 1 million employment generation programme of the government."
  • Allocation (Rs. Mn) :  7,000
  • Sector :  Youth & Women
  • Ministry / Government Institution :  Ministry of National Policies and Economic Affairs

Openness Tracker

Open

The Ministry has provided some information on the reallocation as well as the financial progress of the reallocated funds.

Progress Tracker

Broken

The Ministry states the money allocated for this promise was reallocated to the Rural Infrastructure Development Programme (RIDP). RIDP financial reports indicate that the financial allocation has been utilized.

Sources of Information

  • Budget Tracker - Website Website
  • Budget Tracker - Website RTI