Rs 20 billion for SME development from ADB including non performing sectors
Sri Lanka, Feb. 28 -- The Cabinet has given its nod to the implementation of a project funded by the Asian Development Bank (ADB) aimed at providing credit facilities to existing micro, small, and medium-scale enterprises (MSMEs) in Sri Lanka. The goal is to facilitate their expansion and recovery amidst economic challenges.
The proposed project is a line of credit through participating financial institutions (PFIs) to targeted small and medium-sized enterprises (SMEs) in Sri Lanka, including SMEs that are led by women, are first-time borrowers, do not sufficient collateral and are located outside of Colombo.
The fund allocation for PFIs has been made on a competitive basis. The project also includes an attached technical assistance (TA...
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