LDB grants self-employment loans to estate sector

Distribution of loans under the first stage of the Kandurata Navodaya Loan Scheme took place recently. Eighty-eight entrepreneurs received loans to start self-employment ventures at a ceremony at St. John Delray Plantation in Norwood in Hatton.

Loans are provided under the Kandurata Navodaya Loan Scheme for vegetable cultivation and horticulture, sewing, production of sweets and food items, beauty culture, video filming, retail trade and other production sectors.

The Manager of the Kandy branch of Lankaputhra Development Bank, Ms. Deepika Navaratne said that the Loan Scheme was introduced with the aim of expanding self-employment opportunities in the plantations by making available the necessary finances.

She said that this would help create a group of confident entrepreneurs among the plantation population, to make their contribution towards national development.

The first stage of this Loan Scheme will be implemented covering 25 selected estates coming under the Hatton Zone of the Nuwara Eliya district. Plans have been drawn up to extend the loan scheme first to the entire Nuwara Eliya district and then to the whole country depending on the success of this initial stage.

he loans are provided on concessionary rates of interest. Ms. Navaratne added that a letter of recommendation from the Superintendent of the Estate concerned is essential for purposes of granting the loan.

She said the cooperation extended in this regard by the Chairman of Lankaputhra Development Bank, Upali Liyanage was commendable. She expressed her appreciation to the General Manager/Chief Executive Officer of the Bank, Lasantha Amarasekera for being present on the occasion and to the President of the National Democratic Union, K. Marathaweeran and officers of the Association for their assistance and the expected role from them in ensuring loan repayments.