On Jan. 9, 2025, SRI GVT said scheme for Maha season 2024/2025 effective from Jan. 3 to May 15, 2025, provides loans at 7% p.a. up to LKR 50mn, repayable in 180 days.
Total loan allocation under this program is LKR 10bn, borrowers are required to purchase paddy at minimum purchase price (MPP) set by Department of Agriculture.
Document dated Jan. 9, 2025, received from SRI GVT Jan. 10, summarized on Jan. 13.
On Feb. 2, SRI GVT offered pledge loan scheme to SME paddy firms.
SRI GVT launched concessionary pledge loan scheme for small/medium (SME) paddy millers, storage owners and collectors, to purchase Paddy for Maha season 2023/2024.
Offers loans at a concessional interest rate, to maintain a reasonable price for farmers.
Loan Scheme
Targeted at SME paddy millers subject to specified maximum daily milling capacity, paddy storage owners and collectors with sufficient storage capacity or a valid lease agreement for such storage capacity, those with a valid SRI GVT business registration.
Loan scheme sets out applicable interest rates, repayment conditions, the list of banks participating in the loan pledge scheme, and total amounts to be disbursed by them.
Effectiveness
The scheme will be implemented from Feb. 1, 2024 to Apr. 30, 2024.
Dec. 2024 Annual Program
On Dec. 30, 2024, SRI GVT decided to implement the pledge loan scheme for the purchase of paddy as an annual program, starting from the Maha season 2024/25.
Scheme offers up to a maximum of LKR 50mn for SME paddy millers, including co-operative societies operating paddy mills, with maximum daily milling capacity of 25 MT.
Will be offered through state and private banks under a concessionary interest rate.
Document dated Dec. 30, 2024, received from SRI GVT Dec. 31, summarized Jan. 6.
Jan. 2025 Concessionary Pledge Loan Scheme
On Jan. 9, 2025, SRI GVT said scheme for Maha season 2024/2025 effective from Jan. 3 to May 15, 2025, provides loans at 7% p.a. up to LKR 50mn, repayable in 180 days.
Total loan allocation under this program is LKR 10bn, borrowers are required to purchase paddy at minimum purchase price (MPP) set by Department of Agriculture.
Document dated Jan. 9, 2025, received from SRI GVT Jan. 10, summarized on Jan. 13.
