Cabinet Approves Relaunch of “Sarusara” Rural Credit Scheme for Small-Scale Farmers

Date:

Cabinet Spokesman and Mass Media Minister Dr. Nalinda Jayatissa announced yesterday that the Cabinet has approved the implementation of “Sarusara,” a revamped Rural Credit Scheme aimed at supporting minor and small-scale farmers engaged in short-term crop cultivation and gardening.

Addressing the media at the Government Information Department, Minister Jayatissa explained that the programme, originally introduced in 2020 by the Rural Development Department under the Central Bank of Sri Lanka, provided essential working capital assistance to farmers.

However, due to the enactment of the new Central Bank Act, which prohibits the Central Bank from operating concessionary loan schemes, the government has decided to relaunch “Sarusara” under the Development Finance Department of the Treasury starting in 2025.

The scheme is set to be an annual programme, ensuring consistent support for small-scale farmers. Its objectives include empowering rural farmers, fostering rural development, and strengthening the agricultural sector as a whole.

By reviving “Sarusara,” the government aims to provide crucial financial assistance to farmers, contributing to the overall growth of Sri Lanka’s agricultural economy and enhancing livelihoods in rural areas.

Share post:

spot_imgspot_img

Popular

More like this
Related

State Counsel to Represent Remanded Officer in Mount Lavinia Courtroom Assault Case

State Counsel to Represent Remanded Officer in Mount Lavinia Courtroom Assault Case

Government Fails to Deliver on 2025 Budget as Capital Spending Collapses

Government Fails to Deliver on 2025 Budget as Capital Spending Collapses

Private Sector Drives Sri Lanka’s Pharmaceutical Manufacturing Expansion

Private Sector Drives Sri Lanka’s Pharmaceutical Manufacturing Expansion

Policy Confusion Threatens Sri Lanka’s Digital Economy Ambitions

Policy Confusion Threatens Sri Lanka’s Digital Economy Ambitions