ComBank loans at 6.5% for industrialists under 'E-Friends II'

Small, medium and large scale industrialists can obtain loans for specific projects from the Commercial Bank of Ceylon at a concessionary interest rate of 6.5 per cent per annum through the 'E-Friends II' scheme initiated by the Japanese Bank for International Co-operation (JBIC), the Bank said.

The E-Friends II Loan Scheme provides industrialists with loans up to a maximum of Rs. 50 million to fund pollution control and energy conservation projects. These loans carry a repayment period ranging from three to ten years.

Commercial Bank's Assistant General Manager (Personal Banking) Nimal Luxshman said this loan scheme presents an ideal opportunity for environment conscious industrialists to reduce harmful emissions and at the same time carry out upgrades to improve the efficiency and productivity of their plants and factories. "Loans can also be taken for energy conservation projects, which will help industrialists to bring down their operating costs, whilst at the same time contributing to the preservation of the environment," he said.

Sole proprietorships, partnerships, Limited Liability Companies, Co-operative societies and other privately owned enterprises, irrespective of their size can also borrow under the E-Friends II scheme for projects ranging from wastewater and sewage treatment, plastic or paper recycling equipment, switching over to CFL bulbs and installation of heat reflecting films to save on air conditioning.