Saubagya Covid-19 Renaissance Facility | Central Bank of Sri Lanka

Main Features of ‘Saubagya Covid – 19 Renaissance Facility'

Implementation Agency

Regional Development Department of the Central Bank of Sri Lanka

Areas of Operation

All island

Participating Financial Institutions (PFIs)

Licensed Banks

Maximum Loan Limit

Two months working capital requiremen.

Eligible Sub-borrowers

* Any Income Generating Activity/Economic Activity conducted/carried prior to the COVID-19 outbreak, as stated in the Section 2 of the Monetary Board Circular   No. 05 of 2020.

* Sub-loans will be granted to facilitate working capital requirements of the eligible sub-borrowers for their existing Income Generating/Economic Activity.

Interest Rate payable to the PFI by the Sub-Borrower

4% per annum

Grace Period

1. Maximum duration of six (06) months depending on the nature of the activity

2. Sub-borrowers are not required to pay both capital and interest during the grace period

Repayment Period

Maximum duration of twenty-four (24) months including the grace period

Collateral

The viability of the economic activity should be given priority.  However, PFIs may obtain suitable collateral to mitigate the credit risk relating to credit facilities.

How to obtain further information

Director, Department of Regional Development,
Central Bank of Sri Lanka,
No.30,  Janadipathi Mawatha, Colombo 01.
Tel: 011 2477447, 011 2477438, 011 2477434,
011 2477348, 011 2477113, 011 2477015
Fax: 011 2477734
e-mail: director_rdd@cbsl.lk