SEDB provides loan facilities for small businesses

[TamilNet, Monday, 13 June 2005, 02:06 GMT]
Socio-Economic Development Bank (SEDB) headquartered in Killinochchi through its Trincomalee district branch Saturday started providing loan facilities to farmers and fisheries federations to develop agriculture and fisheries in Trincomalee and Muttur. It also provided loans to persons to start income generative activities. SEDB sources said.



Mr.Elilan hands over documents to a farmer for the purchase of tractor Mr.Sriskandarajah, Director, SEDB and Mr.S.Wijekumar , TRO Trincomalee District Director are also seen

Head of the Trincomalee District Fisheries Development hands over a cheque to the representative of Trinco Fisheries Societies Federation

Farmers who bought tractors on loan from SEDB

Mr.P.Sriskandarajah, SEDB Director addressing the event to move SEDB Trincomalee district branch to a new building held Saturday said three farmers of the Muttur east are provided with tractors with trailers under a soft loan scheme. These farmers are required to repay the loan within three years.

He added under a fisheries development loan scheme, one million rupees and five hundred thousand rupees are paid respectively to the Muttur Fisheries Societies federation and Trincomalee Town and Gravets Fisheries Federation as the first payment of a 2.5 million rupees project.

In addition four plastic fishing boats have been donated two each to the fisheries federations at the event.

He said two persons residing in the Muttur east are provided with financial assistance to buy three wheelers to serve the public in Muttur east villages.

Children who are maintaing saving accounts with SEDB with minimum amount of Rs 2500 were presented with bags of learning materials and boxes of mathematical instruments, sources said.

SEDB headquartered in Killinochchi has ten branches in the northeast, Puthukuddiurpu, Mullaitivu town, Killinochchi, Mallavi, Visuvamadu, Nachchikudah, Thalaiyadi-Maruthankerni i, Muttur-Kadatkaraichchenai, and Vakarai with about twenty thousand customers since its inception in 1997.

In its seven year-service the SEDB has provided loan facilities of 129,345,244 rupees, SEDB sources said.

About five thousand children have joined the Savings Scheme specially designed for children during 2004-2005 with the assistance of Tamil Rehabilitation Organization (TRO). TRO as an incentive deposits 25 percent of the money maintained in the saving account of each child, SEDB sources said.