Sri Lanka, July 7 -- By Shabiya Ali Ahlam
The local micro, small and medium enterprises (MSMEs) continue to be underserved by the country's banking and insurance industry, a national study revealed and the failure of an intervention along with the absence of the necessary stimulus during the ongoing crisis will result in a sizable proportion of these businesses to diminish.
A draft report released by the Small and Medium Business and Enterprise Development Ministry yesterday revealed that following the global pandemic that led to an eight-week-long islandwide lockdown, the MSMEs have been gravely impacted and are struggling to stay afloat with no stimulus package extended their way.
"The finding of the survey confirms that the Sri Lankan...