President Initiates 1,785 micro enterprises in North, East



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President Maithripala Sirisena


President Maithripala Sirisena in his capacity as the Minister of National Integration and Reconciliation, with the concurrence of the Cabinet of Ministers,  initiated action to establish 1,785 micro-enterprises in the Northern and Eastern Provinces under the  Enterprise Based Village Development Project, last week.


Secretary, Ministry of National Integration and Reconciliation V.Sivagnanasothy said that objective of establishing micro-enterprises in the North and East was to improve the socio economic standards of the conflict-affected communities and to address poverty and regional- disparities in the lagging areas.


"It is proposed to establish micro-enterprises in 113 villages  in the two provinces and the project will be supported by a concessionary micro-finance funding through the Regional Development Bank and SANASA. The total estimated cost is Rs.446 million. Each Micro enterprise will receive a maximum assistance of Rs.250,000.  Twenty five  percent of the estimated cost of each initiative will be supported through a matching grant while 75 percent will be under a loan agreement . The interest will also be backed by Government funds", he said.


Sivagnanasothy said that the Office for National Unity and Reconciliation (ONUR) chaired by former President Chandrika Kumaratunga would give leadership to implement the projects.


The projects would contribute towards the alleviation of poverty and serve as a healing and reparation program to empower families affected by war, he added.


 
 
 
 
 
 
 
 
 
 
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