Sri Lanka, July 6 -- Loans under the Central Bank liquidity support scheme to assist pandemic-affected businesses gathered steam as of late as the banking sector regulator granted approval for 6,314 new applications for Rs.25.3 billion worth loans at 4 percent during the eight days from June 25 to July 2.

This is about the same amount of loans approved under the scheme since April 1 to June 24 after the Central Bank announced the credit scheme on March 24 under 'Saubagya COVID-19 Renaissance Facility.'

The scheme was set up to provide Central Bank liquidity to the banks under a refinance scheme at 1 percent to give loans to the pandemic-affected businesses and self-employed at 4 percent for a period of 2 years including a 6-month grace ...