Cabinet gave approval on Thursday to continue the implementation of a microfinance credit facility program for the debt-burdened people of the Northern and North Central Provinces, by increasing the maximum credit limit to Rs. 60,000 per person.

The Treasury has released Rs. 542 million to facilitate this program, and it will operate as a revolving fund.

6656c2876fd9b73a80963a51be5546afThe loan scheme is implemented through Co-operative Rural Banks and Thrift and Credit Co-operative Societies, to provide relief to low income people who have obtained loans from various microfinance institutions.

Cabinet approved the proposal By Prime Minister Mahinda Rajapaksa in his capacity as the Minister of Finance, Economy and Policy Development to continue the loan program, and increase the maximum credit limit.

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