NDB Bank’s tourism sector auto loans empower industry revival

National Development Bank PLC (NDB) has introduced a specialised tourism sector auto loan scheme, designed to support the revival and growth of Sri Lanka’s tourism industry by facilitating access to affordable transport solutions. 

This initiative underscores NDB’s continued commitment to strengthening vital industries that contribute significantly to the national economy.

The scheme provides financing for brand-new or reconditioned unregistered motor coaches, enabling tour operators, hotel shuttle services and other transport providers within the tourism value chain to expand and modernise their fleets. 

With loans of up to Rs.25 million, a highly competitive interest rate of 7 percent per annum and repayment periods extending up to seven years, the facility offers long-term, structured support to businesses driving tourism in Sri Lanka.

Eligibility for the scheme is extended to formally registered tourism enterprises as well as businesses, ensuring accessibility for a broader spectrum of industry participants. Importantly, each entity is entitled to a single facility, designed specifically for growth-focused investment rather than refinancing the existing loans. 

Applicants must be Sri Lankan citizens with a sound project cash flow, repayment capacity and a clear contribution to the revival of the sector.

In line with a structured approval framework, initial eligibility clearance for the borrowers will be coordinated through the Industries Ministry, Youth and Sports Ministry and their regional arms including the NEDA, SED, Vidhatha Units and IDB officers. This ensures that the scheme is aligned with the national objectives for economic recovery and tourism development.

NDB Assistant Vice President Leasing Dilum Amarasinghe stated, “Tourism has always been a cornerstone of Sri Lanka’s economy, creating employment, supporting SMEs and showcasing the best of our island to the world. With this specialised auto finance scheme, NDB is enabling tourism operators to strengthen their services with reliable, modern transport solutions at accessible terms. By doing so, we hope to support the industry’s resurgence and contribute to the broader economic revival of the nation.”