Home / POLITICS / Premier pledges support from next year budget to uplift grassroot businesses

Premier pledges support from next year budget to uplift grassroot businesses

Prime Minister Ranil Wickremesinghe said the Government will support to empower the grassroot level entrepreneurs so they are able to grow and create new jobs for the nation to build up a strong economy.

“By strengthening small and medium local businesses, we build a stronger economy. Our target is to ensure finance flows to grassroots-level businesses,” the Prime Minister said addressing the opening session of Asian Credit Associations Forum in Colombo today.

The Premier said state and private banks should focus more attention to grant loans to small scale entrepreneurs. As the economy get stronger new revenue sources are needed and therefore, the next year budget will allocate funds to the State Banks to uplift small scale enterprises, he added.

The government’s objective is to encourage rural entrepreneurs and for this purpose the government has started ‘Swashakthi’ loan scheme.

“We started a new way to strengthen the grassroot businesses. What we aim is to build a more systematic financing basis for the grassroot businesses in cooperation with non-governmental and private sectors,” the Premier said.

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