Athwela - an initiative of Indra Traders and BoC launched

By Sanjeevi Jayasuriya

The second phase of Athwela, a joint initiative of Indra Traders (Pvt) Ltd and the Bank of Ceylon (BoC) was launched last week to support the business community including entrepreneurs to purchase vehicles.

Under the scheme, brand new Foton double trucks could be bought with a low initial payment and a flexible repayment plan.

"We launched Athwela one year ago and it has reached maturity. The second phase is now in progress. This scheme is a public-private partnership for the benefit of the SME sector," Indra Traders, Managing Director Dushyantha Silva said.

"Foton, built according to Japanese technology is a vehicle that suits local road conditions and will help boost the business of discerning customers," he said The rationale behind the launch of the Athwela scheme is to drive economic development further by assisting upcoming businesses. As the contribution by the private sector, particularly the SMEs and new entrants is vital for growth, the scheme will have a positive impact on the country's forward march, he said.

Attending the first official engagement since assuming duties as the General Manager of Bank of Ceylon, D.M. Gunasekera said that the relationship between the two institutions is over 25 years.

"The bank is optimistic of the program and considers it as an important tie-up to support the business community with speedy loan facilities to purchase a vehicle.

As the banker to the nation, BoC promotes commercial activities that lead to economic prosperity in the country," he said.

The company hopes to sell more vehicles under the second stage and is confident that the sales target for the year would be met. The price of the vehicles includes the cost of insurance cover.