The Cabinet has approved the proposal to economically empower women in the micro, small and medium enterprise sectors.
It has been observed that women’s participation in Sri Lanka’s economic activities is lower than in other regional and Asian countries due to various factors.
According to the Sri Lankan Labor Force Survey conducted in 2022, 35% of the economically active population are women, indicating a significant disparity in the gender contribution rates of economic participation, according to the government.
Limited financial literacy and lack of property or other collateral for women to access financial resources have been identified as the main obstacles facing women entrepreneurs in Sri Lanka.
Therefore, out of the 200 billion rupees allocated to implement a loan scheme to re-strengthen the micro, small and medium enterprise sector as per the Cabinet decision dated 26-02-2024, 02 billion rupees will be used to enable women to engage in economic activities. The Council of Ministers approved the President’s proposal to implement a special loan scheme to remove the obstacles. (Lankadeepa)
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