Loan at subsidized interest to unemployed youth

A special program has been started for the unemployed youth who are unable to get loans from the state banks to get loans for agricultural activities at a subsidized interest rate.

The Ministry of Agriculture said that this step has been taken as a program to encourage young people who are interested in farming.

It is stated that the Minister of Agriculture, Mr. Mahinda Amaraweera, has given instructions to the officials to intervene in providing the loan money through the state banks.

In its first phase, loans of one million and two million rupees each have been granted to 50 young people in Hambantota district at a minimum interest rate of 6.5 percent.

The Ministry of Agriculture further mentioned that arrangements have been made to provide loans under this loan scheme to the unemployed youth who are interested in agriculture for a suitable crop or animal husbandry of their choice.