15th February 2022 15:30:13 Hours
Taking one more leap forward that corresponds with the ‘Sri Lanka Army Way Forward Strategy 2020-2025’ (SLAWFS), conceptualized and being implemented as per guidelines of the Army Chief, the Sri Lanka Army this morning (15) in partnership with the state-owned People's Bank launched its “Viru Abhiman” special concessionary Housing Loan Scheme in order to ensure each soldier in the Army own a decent house before reaching the age of retirement.
The brainchild behind the new initiative, General Shavendra Silva, Chief of Defence Staff and Commander of the Army and the resource provider, People's Bank, Chairman, Sujeewa Rajapakse entered into this significant agreement this morning (15) at the Army HQ during a simple ceremony, attended by a representative gathering of Senior Officers, Officers and Other Ranks, bringing the dream of having an own home of Army personnel to fruition.
Under this housing loan scheme, an Army applicant can receive a maximum loan of Rs. 15 million at 9 % interest rate per annum and 75% of the loan amount can afterwards be obtained against the land value, on which the house is to be built and the estimated value of the proposed new construction. Or else, in the event of purchase of an already-built home, the applicant can get 75% of the estimated value. Similarly, the applicant is eligible to receive 60% of the value in cash when purchasing an apartment unit in a housing complex or so.
Adding a unique feature to the whole scheme, the loan recipient is able to re-pay the loan even after retirement from service up until 70 years of age. Likewise, the troops of the Army Corps of Engineer Services (CES) under 5 approved architectural models are prepared to erect the selected house with the support of work teams, made available to the CES by the respective regiment of the applicant after the loan was approved.
Director, Financial Management at the Directorate of Financial Management, Major General Shiran Abeysekara in close collaboration with the Directorate of Welfare, Directorate of Personnel Administration, People's Bank and other relevant sections ensured the launch of the new project in close consultation with the Army Chief who maintains that each soldier must be able to pursue the career with dignity while on service and also after retirement since they all are devoted to exceptional tasks for the best interests of the Nation. The Sri Lanka Army Directorate of Welfare will liaise with the People's Bank to disburse this loan to Army personnel as a separate project after processing applications of those applicants.
Tuesday's launching ceremony at the Army HQ saw Mr. Sujeewa Rajapaksa, Chairman, People's Bank formally hand over the “Viru Abhiman” housing loan scheme agreement to General Shavendra Silva, Chief of Defence Staff and Commander of the Army after a brief speech to the occasion. At the same time, General Shavendra Silva as the Chief Guest to the occasion remarked saying that the loan scheme would definitely benefit all Army personnel who are aspiring to have their own 'dream home' realized with the unfailing support of own troops and respective regiments. He also thanked the People's Bank for this arrangement which added an exceptional value to the role of our armed forces.
The Army Chief on arrival at the ceremony was welcomed by Major General Vikum Liyanage, Chief of Staff and the brief ceremony that followed health guidelines commenced after lighting of the traditional oil lamp. A video documentary on the scheme and the relevant cost for each of those proposed 5 types of houses was also screened introducing the “Viru Abhiman” loan scheme at the outset of the day's proceedings.
Chief Executive Officer, People's Bank, Mr Ranjith Kodituwakku, Major General Vikum Liyanage, Chief of Staff, Major General Jagath Kodithuwakku, Deputy Chief of Staff, Major General Channa Weerasuriya, Commandant Sri Lanka Army Volunteer Force, Major General Shiran Abeysekara, Director General Financial Management, Major General Deepal Pussella, Adjutant General, Brigadier Nishyanka Eriyagama, Director Welfare, officials of the People's Bank, senior Officers, Officers and a representative group of Other Ranks attended the launch of the project at the Army HQ.
