Cabinet approval has been granted to the proposal made by Youth and Sports Minister Namal Rajapaksa to provide a loan subject to a maximum of one million rupees for the implementation of new small and medium scale projects.

This loan scheme is aimed at empowering young entrepreneurs between the ages of 18 and 40 to further their business ventures. Young Entrepreneurs who engage in Information technology (IT), agriculture, dairy, animal husbandry, tourism promotion related projects and innovative and machinery design projects can apply for this loan up to maximum of Rs. 1 million.

At the suggestion of Minister Namal Rajapaksa, this loan scheme operates under the “Small Business Development Division” of the Ministry of Youth and Sports.