ADB loan to bolster financial capability of Lankan SMEs

The Asian Development Bank (ADB) and the government of Sri Lanka signed on March 25, a loan agreement totaling US$100 million, out of which $50 million is to provide small and medium-sized enterprises (SMEs) in Sri Lanka more access to finance and build their resilience to external shocks, such as the economic crisis and climate change, while $50 million will be used to issue partial credit guarantees through the National Credit Guarantee Institution.

K.M. Mahinda Siriwardana, Secretary to the Treasury, Ministry of Finance signed on behalf of the government of Sri Lanka and Utsav Kumar, Deputy Country Director, ADB, Sri Lanka Resident Mission signed on behalf of ADB.