NDB Bank Empowers Coconut Farmers with Credit Scheme

NDB Bank announced its partnership with the Coconut Cultivation Board (CCB) for the ‘Kapruka Ayojana’ Credit Scheme, a transformative financial solution designed to boost coconut cultivation and integrated farming systems across Sri Lanka, the Daily Mirror online reported. This initiative reinforces NDB’s commitment to supporting the nation’s agricultural sector and empowering local farmers to become key contributors to national economic growth.
Sri Lanka’s coconut industry plays a vital role in both domestic livelihood and export revenue generation. In response to the growing need for increased production and sustainable development in this sector, the Kapruka Ayojana Credit Scheme has been introduced to provide farmers with the financial resources necessary for cultivating new coconut plantations, rejuvenating existing lands, and adopting modern, productive agricultural practices, the report said.
Under this scheme, eligible farmers can access loan facilities of up to Rs. 7 million at a highly concessionary annual interest rate of just 8 percent, with a repayment period of up to 5 years, including a grace period of up to 12 months.  The scheme offers financing for a wide range of activities including New coconut planting and replanting with intercropping, Soil and moisture conservation, Fertilizing, mulching, and crop protection, Establishment of agro wells and irrigation systems, Coconut-based integrated farming systems including livestock and equipment, Nursery development and provision of farm machinery and Viable large-scale coconut farming projects (subject to technical evaluation).