Interest Subsidy To Refurbish, Upgrade Hotels

The Ministry of Tourism Development and Christian Religious Affairs plans to provide an interest subsidy to refurbish and upgrade facilities in hotels which are more than 10 years. This was suggested in the 2017 budget. The main objective of this scheme is to encourage hoteliers to maintain the hotels with modern facilities to be competitive in the market.

The maximum loan amount given under this scheme is Rs. 25 million while 50 percent of this loan interest will be borne by the Ministry of Tourism Development and Christian Religious Affairs.

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