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

Resisted

Sufficient information to determine progress was obtained with difficulty. Further information regarding the allocation was not provided upon RTI request.

PROGRESS

Broken

According to the Ministry of National Policies and Economic Affairs, the money has been reallocated to the Rural Infrastructure Development Programme which is currently ongoing.

Documents

Sources of Information

  • Budget Tracker - Website RTI