Srilanka, Feb. 17 -- President Anura Kumara Dissanayake announced plans to establish a state-owned development Bank under 2025 budget proposals to support the country's small and medium-scale enterprises (SMEs).

Earlier this month, Minister of Industries and Entrepreneurship Development Sunil Handunnetti shared the government's plans to work with the Central Bank (CB) for this initiative. The move is mooted by the country's MSME sector as access to finance remains, in particular difficult for MSMEs.

However, the CB took a stance against the creation of distinct banks or institutes exclusively dedicated to providing funding for small businesses.

Published by HT Digital Content Services with permission from Daily Mirror Sri Lanka....