Minister of State Shehan Semasinghe says that the institution for providing guarantees for small and medium enterprises will start in January under the Ministry of Finance.
Issuing an announcement, the minister says that an amount of 50 million US dollars has been allocated for that purpose.
The announcement further states that at a time when the crisis is emerging, the government considers the upliftment of small and medium enterprises, which contribute more than 50% of the country's economy, to be a priority.
The minister also said that the government will take steps to use the over 30 billion rupees allocated for the upliftment of the relevant enterprises in the 2024 budget for loan schemes.
In the meantime, the minister has also indicated in his announcement that 11 different relief schemes, including the provision of working capital, have been implemented for the relevant enterprises since the Covid epidemic.
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