Lankaputhra Development Bank loans for SMEs in NCP

Small and medium-scale entrepreneurs in the North Central Province received a boost thanks to the loans provided by the Lankaputhra Development Bank (LDB) at concessionary rates. These loans were presented at a ceremony organised by the bank's Polonnaruwa branch. The ceremony was held at the Polonnaruwa Bendiwewa Divisional Council Auditorium and attended by several of the bank's senior management.

The loan scheme falls under the 100-Day Development Program' initiated by the Government and benefits 100 chosen entrepreneurs in the Kanthale, Aralaganwila, Siripura, Welikanda and Medirigiriya areas.

The loans will be given to entrepreneurs in small-scale rice mills, tourism and bungalow development, food and related industries and other chosen special industry categories.

Chairman, Lankaputhra Development Bank, Lasantha Goonewardena said, "The Bank's objective is to focus more on developing the small and medium-scale entrepreneurs spread across the island rather than the large-scale entrepreneurs."

He added that the bank is working closely with the 100-Day Development Program of the Government and launched the Siyapath Pubuduwa loan scheme to create 1,000 small and medium entrepreneurs.

"I believe that these entrepreneurs will get the maximum benefits through this timely effort," he said.

LDB has set up branches in Colombo, Hambantota, Polonnaruwa, Kandy, Kegalle, Wennappuwa, Batticaloa and Trincomalee. The management hopes to expand the branch network in the future.

New branches will only be opened if a better service can be offered to customers in a particular area. LDB provides attractive interest rates for savings and a high interestrate for senior citizens' fixed deposits.