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| Sunday, 31 October 2004 |
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Business |  |
| News Business Features Editorial
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Agricultural banks next by L. S. A. Wedaarachchi A network of Agricultural banks will be set up to assist the farmers and one hundred agricultural banks are expected to be introduced soon. The main objective of this exercise is to assist farmers to obtain loans whenever they need, especially for their agricultural activities. According to a spokesman of the Ministry of Agriculture, Livestock and Land it has been revealed that the farmers have to face enormous difficulties to obtain loans from the commercial banks. The time factor as well as the way the farmers are being treated at some of the commercial banks discourage the farmers to apply assistance from the banks. It appears that borrowing a loan from a commercial bank is painstaking for farmers. The government has decided to strengthen the agriculture banking sector. As an immediate step Rs. 50 million will be allocated to the agriculture banks by the government and the instructions will be given to agriculture banks to release agricultural loans to farmers in a smooth and expeditious manner. "Trust in the farmers and the minimal paper work are the main features of our loan scheme", said the spokesman. |
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