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Ex-militants to get loans to start work
Saturday, 05 March 2011 00:00
By Kelum Bandara
Rehabilitated LTTE combatants had been encouraged to obtain bank loans up to Rs.25 million each for self employment projects and business ventures, a Central Bank official said yesterday.
Some 5,600 ex-combatants have now been integrated into society after being trained in vocational skills in masonry, carpentry, beauty care, pre-school teaching, hair dressing and vehicle repairing. Central Bank Assistant Governor W.M. Karunaratne said military officers based in the area would co-ordinate the programme, and the Bank of Ceylon had agreed to issue the loans.
He said initially 2,500 of them had been identified for this programme.
“I don’t think all of them will apply for loans. Anyway, the BoC is ready to give loans to all of them if necessary. They are encouraged to undertake income generating projects and funds will be made available to them under loan schemes known as ‘Saubagya and Wiskam’. We have increased the maximum loan limit to Rs.25 million,” Mr. Karunaratne said.
He said Central Bank had instructed the BoC to give the loans against lands as collateral, even though without proper title.
“In the North, there are many lands without proper title. In most cases the documents have been destroyed during the war time. Some have lands with titles, but the details cannot be verified with the District Secretaries. The Central Bank will guarantee loans of up to Rs.500,000,” Mr. Karunaratne said adding that loans for cultivation were also possible.
He said there had been increased economic activity in the post war period with Rs.3 billion issued as loans.
When asked about the income generating projects by ex combatants, he said investments could be made in the fruit and milk processing industries, vehicle garages, beauty parlours or any other project that could be categorized as small and medium scale enterprises.
Only some 4,500 ex combatants including 34 females were still undergoing rehabilitation.