Welcome to Ministry of Tourism Development and Christian Religious Affairs
sinhala tamil














Economic Policy Statement by Prime Minister

We have not been able to make the best utilization of our tourist resources. We need to create a productive and result oriented tourism industry and not one driven by numbers alone." Download Full Speech

Sri Lanka Tourism To Take-off Seasonal Celebrations

The Sri Lanka Tourism Development Authority together with other tourism institutions under the Ministry organized the ‘Tourism Fest with the spirit of Christmas’ from 19th to 23rd December 2015 .


<< All Notices



Calling Applications for
“Interest Subsidy Loan to Refurbish and upgrade Facilities”
in Tourist Hotels

Ministry of Tourism Development and Christian Religious Affairs


Introduction

In terms of 2017 Budget Proposals, the Ministry of Tourism Development and Christian
Religious Affairs plans to provide an interest subsidy to refurbish and upgrade facilities in the
Hotel sector which have been in operation for more than 10 years.


Main Objective

The main objective of the scheme is to encourage hoteliers to maintain the Hotels with
modern facilities to be competitive in the market.


Eligibility to apply

  • Private owned hotels having registered with the Sri Lanka Tourism Development
    Authority and in operation for more than 10 years. (10 years’ period of operation
    should have been competed by 1 st January 2017)
  • In terms of notification published in the Extra Ordinary Gazette No. 1963/28 dated
    20 th April 2016, a ‘Tourist Hotel’ has been defined as “an establishment or place
    which provides or holds itself out as providing to tourists for fee or reward sleeping
    accommodation with or without food and has not less than ten bedrooms”.

Loan Amount

The maximum loan amount eligible to be applied would be Rs. 25 million.


Loan Interest

Based on the prevailing market condition the rate of interest will be calculated by the relevant
Banks on the following formula;
  • Most recent 6 months’ AWPLR (Average Weighted Prime Lending Rate) published
    by the Central Bank of Sri Lanka + 1.2 (6 months’ AWPLR + 1.2 %)
Under the scheme, 50% of this loan interest will be borne by the Ministry of Tourism
Development and Christian Religious Affairs.


Participating Financial Institutions

This Interest Subsidy Loan scheme will be implemented through,

  • Licensed Commercial Banks (LCBs)
  • Licensed Specialized Bank (LSBs)


Designated Authority

This scheme is administered by Ministry of Tourism Development and Christian Religious
Affairs.


Legal Basis

The guidelines issued by the Ministry of Tourism Development and Christian Religious
Affairs is the legal basis of this scheme.


How to apply

  • Applications are invited from eligible Hoteliers which will be subjected to pre-
    approval by a committee comprising officials of the Ministry of Tourism
    Development and Christian Religious Affairs.
  • The applications can be downloaded from the Ministry website
    http://tourismmin.gov.lk or can be collected from the Development Unit of the
    Ministry of Tourism Development and Christian Religious Affairs located at the
    address given below. (No hand-written applications will be accepted)
  • Duly completed application forms along with documents should be sent by registered
    post to reach Secretary, Ministry of Tourism Development and Christian
    Religious Affairs, 6 th Floor, Rakshana Mandiraya, 21, Vauxhall Street, Colombo
    -02. The top left hand corner of the application should be marked as “Application for
    Interest Subsidy Loan to Refurbish and Upgrade Facilities in Tourist Hotels”.
  • All applications received will be evaluated by a Committee appointed for the purpose
    and the approved applications will be forwarded to respective banks and applicants
    will be informed accordingly.
For further clarifications please contact Mr. S.L.M Hazeem, Director (Development) Ministry
of Tourism Development and Christian Religious Affairs on 0112324133.




Secretary,
Ministry of Tourism Development and Christian Religious Affairs
6 th Floor, Rakshana Mandiraya, 21, Vauxhall Street, Colombo -02
Date :- August 14, 2017


Click To Download Application