Draft

Ref No: 32/04/011/0001/002

01 March 2021

Manager,
Development Banking
Pan Asia Banking Corporation PLC,
Head Office, 450,
Galle Road,
Colombo 03.
Dear Mr. Ranjith,

Saubagya COVID 19 Renaissance Facility: Phase II- Returning undisbursed funds

This refers to your letter dated 29.01.2021 on the above matter.

As you are already aware, Saubagya COVID 19 Renaissance Facility -Phase II was implemented
for the purpose of granting loans to the eligible borrowers whose businesses were affected due to
COVID 19 outbreak. However as per the above letter it appears that out of the total funds
claimed by your bank under above facility, a total of Rs. 99,650,000.00 have not been disbursed
to the borrowers.
Therefore, you are hereby informed to pay back the total undisbursed amount, from which the
total funds claimed under above loan scheme at the immediate rollover date along with the
interest applicable at the rate of 1 present per annum for 180 days. Accordingly, you are eligible
to receive only the balance amount after deducting the total undisbursed amount from the amount
you were supposed to obtain at the immediate rollover date.
Further, you are hereby informed to send your conscent or the suggestions for the above
arrangement at your earliest enabling us to proceed with.
Your early response in this regard is highly appreciated.
Yours faithfully,

B L J S Balasooriya
Director/Regional Development Department