Migrant Workers Eligible for Housing Loans Up to Rs. 10 Million

COLOMBO (News1st);The "Ethera Diriya" migrant worker housing loan scheme has been launched to allow migrant workers to obtain housing loans up to 10 million rupees.

This aims to provide financial facilities for the housing needs of migrant workers.

The Sri Lanka Bureau of Foreign Employment (SLBFE) stated that memorandums of understanding (MoUs) were signed yesterday with banking institutions and Minister of Foreign Affairs, Foreign Employment, and Tourism, Vijitha Herath.

Under this loan scheme, eligible migrant workers will have the opportunity to obtain housing loans ranging from 500,000 rupees to 10 million rupees.

The Foreign Employment Bureau mentioned that the loan amount can be repaid within a maximum period of 10 years.

An amount of 126 million rupees has been allocated for this purpose for the year 2027.

The SLBFE also stated that the maximum loan interest rate is 15 percent annually, and if a bank charges an interest rate exceeding 15 percent, the additional interest amount must be borne by the borrower.