Business · Sri Lanka Bureau
Namal proposes fresh-start loan initiative for 2027 budget allocation
Sri Lanka's Deputy Minister has called for a second-chance loan scheme to be included in next year's budget, aimed at supporting individuals seeking financial rehabilitation. The proposal reflects efforts to expand access to credit for those with previous lending difficulties.
LSN Sri Lanka ·
Deputy Minister Namal has formally requested the inclusion of a second-chance loan scheme in the 2027 national budget, signaling government interest in broadening financial inclusion measures across the island.
The proposed initiative would target individuals and small borrowers who have faced difficulties accessing credit due to previous financial setbacks or unfavorable credit histories. Such schemes typically aim to provide pathways for economic participation among populations traditionally excluded from conventional lending arrangements.
The proposal aligns with broader policy discussions around financial accessibility and economic recovery as Sri Lanka continues navigating fiscal challenges. Officials have emphasized the potential for targeted credit interventions to support entrepreneurship and household economic resilience in both urban and rural communities.
The inclusion of such a scheme in the 2027 budget would require parliamentary approval and coordination among relevant financial regulatory bodies. Budget deliberations are expected to weigh the proposal against other fiscal priorities in coming weeks.