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Sri Lanka launches tea assistance project to increase tea production.

SRI LANKA -- The Government of Sri Lanka recently launched the Tea Development Project Revolving Fund Credit Scheme. This development would assist existing small tea growers and the tea factory owners to improve the productivity of the tea industry in Sri Lanka.

The Ministry of Plantation, Tea Small Holding Development Authority [TSHDA] Central Bank of Sri Lanka, Sri Lanka Tea Board and local commercial banks are engaged with this exercise under the financial assistance of the Asian Development Bank. After the launching of the new tea revolving credit scheme, Chairman of the TSHDA Noel Padmasiri Kariyawasam said this scheme would provide 1,100 million rupees to improve local tea industry within next seven years.

Speaking to the media, the chairman said that this loan would provide tea replanting, infilling of blocks, nursery establishment, use of new technology, improvement for tea factories to obtain HACCP certification and social organization development.

According to the experts of the TSHDA, the revolving credit scheme does not grant any assistance to start new plantations. However, tea small holders associations now can obtain loans to purchase plucking machines, plucking shears, leaf transport vehicles or crates and machines to ease cultural operations.
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Title Annotation:World News: Coffee and Tea Reports from the Front Line
Publication:Tea & Coffee Trade Journal
Date:Oct 1, 2006
Previous Article:Coffee prices rise in demand.
Next Article:China to set standards for tea drinks.

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