Business
Nations Trust Bank finalises USD 40mn loan granted by FMO
Nations Trust Bank announced recently the finalisation of a loan facility of USD 40 million from FMO, the Dutch Entrepreneurial Development Bank. Supporting the Small and Medium Enterprise (SME) sector affected most by the pandemic, the funds are to be used towards the revival and growth of the Bank’s SME portfolio, in order to ensure lives and livelihoods are protected and new employment is created.
Nations Trust Bank’s business value proposition has a clear focus on enterprise development. Over the years, the Bank has introduced several strategic initiatives to support the SME sector through sharing of expertise, facilitating training programmes and mentoring businesses.
The Bank stated that it will focus its funding to local manufacturing, pharmaceuticals, value-added agriculture, women-led businesses, and export-oriented business which in turn will generate the much-needed foreign exchange flow into Sri Lanka and aid in building a resilient national economy.
Nations Trust Bank’s Director, Chief Executive Officer, Priyantha Talwatte said, “The facility extended by FMO will enable us to support the growth of our SME clients and to provide solutions which are relevant at each stage of the customer’s business lifecycle. It will contribute to narrowing the SME-financing gap and boosting financial inclusion, a goal shared by Nations Trust Bank and FMO. These funds will support the Bank’s own ‘Diriya’ programme which was floated to support the revival of business with the advent of the pandemic.”
“Our strong and long-standing relationship with FMO has made this facility possible and stands testament to Nations Trust Bank’s continuous ability to transact with international lenders to support local business rebuilding activity.” FMO has worked closely with Nations Trust Bank since 2004 and partnered to provide the Bank with access to long-term funding which has become more challenging due to the economic effects of the Covid-19 pandemic.
“The ability to attract five-year funds would further strengthen the liquidity position of the Bank’s balance sheet while FMO’s long term credit appetite on Nations Trust Bank reflects the stability and strength of the Nations Trust Bank franchise. Qualifying for FMO funds also demonstrates that the Bank’s social and environmental criteria meet international standards” Talwatte added.
Marnix Monsfort, Director a.i. Financial Institutions said, “FMO is very pleased that we can once again engage with Nations Trust Bank to support them in their strategic journey of supporting SMEs. By contributing to further narrowing the SME-financing gap, Nations Trust Bank can and will boost financial inclusion to various underserved segments, one of the goals highly supported by FMO.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
US sports envoys to Lanka to champion youth development
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