COLOMBO, Jan. 9 (Xinhua) -- Sri Lanka has decided to disburse 33.8 million U.S. dollars under a pledge loan scheme through the banks for small and medium scale millers and cooperative societies to purchase paddy from farmers in the 2024/2025 Maha Season, which falls from September to March, the country's department of development finance said on Thursday.

The department, which is under the ministry of finance, planning and economic development, said the target groups of this loan scheme are subjected to the maximum daily paddy milling capacity of 25 metric tons.

All borrowers should have a valid business registration obtained from a relevant government institution. Under this loan scheme, they can obtain loans at an interest rate of 7 percent per annum with the amount of 169,000 U.S. dollars to be repaid within 180 days, the department said. Enditem

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