The Cabinet has approved a proposal to provide Rs. 15.8 billion as loans to the tourism industry to pay salaries to employees. The proposal was submitted by Minister of Industrial Exports and Investment Promotion, Tourism and Aviation Prasanna Ranatunga. Accordingly, Hotels, Tour Management Companies and Tour Agencies registered under the Sri Lanka Tourism Development Authority (SLTDA) will be granted loans to pay Rs. 20,000 per staff member for a period of 6 months. The loans will be granted through state banks at an interest rate of 4%. Industry players will be granted a grace period of 2 years and have to pay back the loan amount within 5 years. The Tourism Ministry said the loan package will cover 131,497 persons employed in the tourism industry. The Cabinet has also approved loans to be granted to eateries that cater to tourists, wellness centres and spas to pay salaries amounting to 15,000 per staff member for a time period of 6 months. Further, 9216 tour guides and drivers registered under the SLTDA will be granted a one time allowance of 20,000 and 15,000 respectively. The Ministry said the government has allocated a sum of Rs. 156 million for this one time allowance.