The government has unveiled a comprehensive relief package designed to assist small and medium-scale enterprises (SMEs) struggling to repay loans. The initiative aims to support affected businesses while maintaining the stability of the banking sector.
Developed in collaboration with the Central Bank of Sri Lanka (CBSL), the Sri Lanka Banks’ Association, SME representatives, and other government institutions, the relief package reflects a long-term commitment to economic recovery.
Eligibility Criteria:
SMEs must meet the following requirements to qualify for the proposed relief package:
- Loan Status: Credit facilities obtained from a licensed bank must have been classified as Stage 3 (Non-Performing Loans/NPL) on or after April 1, 2019.
- Engagement Deadline: SMEs must initiate discussions with the respective Relief Banking Unit on or before March 31, 2025, and submit all necessary documents.
Relief Measures:
The package includes specific relief measures categorized by the aggregate capital outstanding of credit facilities as of December 15, 2024.
This initiative is expected to provide significant support to SMEs, helping them recover from financial challenges while ensuring the resilience of the banking sector. The government encourages eligible businesses to engage with the Relief Banking Units promptly to access the benefits.
