$75m more from ADB to boost SMEs
The Government on Friday signed a loan agreement with Asian Development Bank (ADB) to obtain additional funding for a Small and Medium Enterprise (SME) Line of Credit Project.
The Finance Ministry said in a statement the Government had obtained ADB Financial assistance of $100 million in 2016 to finance the SME Line of Credit Project. The objective of the project was to strengthen the SME sector in Sri Lanka by facilitating access to finance and expand the employment opportunities in the sector.
The project is being successfully implemented and, given the importance of this intervention, said the Ministry, the Government decided to obtain an additional financing through a loan of $75 million with the intention to scale up the ongoing SME Line of Credit Project. The Additional financ...