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| Sunday, 05 March 2006 |
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BoC's industrial and business loan schemes hailed by L. S. A. Wedaarachchi The Sookshma (Micro) and Gamata Naye loan schemes aiming at entrepreneur development and establishing industries in the sub-urban and rural areas in the country implemented by the Bank of Ceylon (BoC) recently had evinced a tremendous response from customers. Within four weeks the BoC granted 564 Sookshma (Micro) loans to self-employed businessmen all over the island. The chairman of the BoC - Udayasri Kariyawasam, a renowned chartered accountant by profession, said the enormous resources in the sub-urban and rural areas including human resource in Sri Lanka should be utilised and activated for the economic and social development of the country. He said the BoC as a giant in every aspect in the banking sector has all the capabilities to transform the country from the present level to a sustainable country rejuvenating micro, small, medium and large scale industrial and business sectors. Through the Sookshma loan scheme the BoC expects to assist self-employed family based industrialists and businessmen.The maximum loan of Rs. 250,000 can be obtained under the Sookshma loan scheme by rural based self-employed youth to expand their businesses. Any self-employer over 18 years engaged in any type of business or industry such as poultry, handloom, batik, textile, tailoring or trading with his family members or relatives are entitled to apply for Sookshma loans. Gamata Naye the second loan scheme was implemented by the BoC recently. Explaining the Gamata Naye loan scheme chairman Kariyawasam said that the aim of this project is to transform the village into a vital centre of economic activity, generating employment infrastructure development and improve the quality of life. This loan scheme can be utilised to inaugurate or relocate industrial sector enterprises in the sub-urban or rural areas. "The total investment of the proposed project should be Rs. 30 million or above. Employment generation should be 200 or above and projects with more than 50 employment opportunities could be considered. The project essentially should be located outside the Western province, he said. The BoC is willing to grant up to 70 per cent of the total project costs the BoC encourages and approves financially sound, technically feasible and environment friendly projects. The maximum repayment period of the Gamata Naye loan scheme is ten years with a grace period of one year. While enlivening the sub urban and rural industrial and business sector, the chairman is determined to change the image of the state sector giant bank BoC as the most preferred bank in the country. Udayasri Kariyawasam, graduated from the University of Sri Jayawardenapura and post graduated in Australia and USA, decided to declare 2006 as the Bank of Ceylon's "Customer Service Year". This declaration was made soon after he assumed duties as the chairman. Explaining the reasons behind this decision, he said, since the strong support BoC received from the government gave it a sense complacency they did not bother about possible setbacks. Every other commercial bank in the country is providing customers with banking solutions that can be compared favourably with those of other countries. It is high time that we at the BoC change our attitudes and start building the country's most acclaimed bank, he said. |
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