Sri Lanka, Jan. 19 -- Minister of Trade, Commerce, Food Security and Cooperative Development Wasantha Samarasinghe said that the Cooperative Act will be amended to streamline the cooperative mechanism.

The Minister said that loans will be provided to network cooperative outlets, hospitals, banks and insurance institutions as one brand and to start 25 new mega coop cities and to start 100 small coop cities regionally.

The Minister said that assistance will be provided to start production within cooperative societies and emphasized that the cooperative movement will be digitized in the future and that it is expected to provide a more efficient and effective service. Besides, it is expected to provide insurance coverage to cooperative empl...