Central Bank spells out concessions to affected businesses and individuals

The Central Bank of Sri Lanka has requested licensed Commercial Banks to grant relief to affected businesses and individuals given the outbreak of the third wave of Covid 19. The Central Bank in a circular states that these concessions are granted with a view to ease the burdens of the borrowers affected by the current disruption of the business. Accordingly, the borrowers will be eligible to defer or restructure existing credit facilities in the performing category as of May 15 2021. The circular issued by the Central Bank of Sri Lanka outlines recommended concessions. Issued under the signature of the Governor Central Bank, the circular states the following Circular No. 5 of 2021 on Concessions for COVID-19 Affected Businesses and Individuals (1))