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| Sunday, 30 May 2004 |
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| News Business Features Editorial
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HNB signs subsidiary loan agreement with Central Bank Hatton National Bank (HNB) has come forward to provide a subsidiary loan agreement 'Poverty Alleviation Micro Finance Projects' to low-income generating people of self employment in the North and East provinces. The Central Bank has already granted upto Rs. 1.50 Mn loans through RRDBS under its Poverty Alleviation credit line (refinance loan scheme) in all other provinces. The donor agency Japanese Bank for International Corporation (JBIC) has allocated Yen 100 Mn (Rs. 80 Mn) to the above project which is to be kept as a revolving fund for three years. The bank could disburse the loans either directly to the eligible borrowers in the groups or through the NGOs/selected institutions. Formation of groups should be done with the maximum participation of eight members and they should actively operate their group activities at least for three months prior to obtaining the loan. The picture shows M. Attanayake, Director-Regional Development of Central Bank handing over the agreement to Chandula Abeywickrema, Deputy General Manager - Personal Banking of HNB. |
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