Government to Request a Loan Worth $100 Million from ADB to Assist the SME in the Tourism Industry
A $100 Million loan is in the process of being obtained by the Finance Ministry via the Asian Development Bank in order to support SME within the tourism industry.
The money is to be utilized to grant the concessions approved by the Cabinet on 10th June. Prasanna Ranatunge, Minister of Tourism further stated that the cabinet has approved a proposal to allow registered hotels to settle their water and electricity bills from 1st March to 31st August in 12 installments from 1st September.
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