Business
Seylan Bank to disburse ADB’s Working Capital and Long-Term Loans for SMEs
Seylan Bank PLC, in collaboration with the Asian Development Bank (ADB) and the Government of Sri Lanka (GoSL), will disburse Working Capital and Long-Term Loans from the ADB, aimed at bolstering the Small and Medium Enterprise (SME) sector in the country.
In an effort to stimulate economic growth and support local businesses, Seylan Bank will offer financial assistance to SMEs engaged in various industries, including Agriculture, Fisheries, Ornamental Fisheries, Aquaculture, Livestock, Animal Husbandry, Poultry, Tourism, and Export-Oriented Businesses. Seylan Bank has been a consistent partner in regard to ADB funding in Sri Lanka. Through ADB’s credit lines, the Bank has disbursed loans to the SME sector and Tea Smallholders in the past.
SMEs looking to enhance their working capital will benefit from the competitive repayment rate of 8% for a three-year period. Additionally, for other purposes such as building finishing work, purchase of fixed assets, or acquisition of commercial vehicles, loans with a six-year tenure are available at the same repayment rate of 8.5% to 11%.
One of the key initiatives introduced by Seylan Bank is the SME Hub, a pioneering concept tailored to meet the unique needs of SMEs. The Seylan SME Hub aims to streamline financial services, offering convenience and speed through the bank’s extensive island-wide branch network. The dedicated banking services provided through the SME Hub include special advisory support to guide SMEs through their financial journey.
Moreover, export-oriented SMEs will have access to Seylan Bank’s revolutionary ‘Export Expert’ service. This innovative offering is designed to empower SMEs by providing comprehensive support and knowledge-sharing, enabling them to excel in the global market. ‘Export Expert’ equips SMEs with the necessary tools and relevant financial literacy required to navigate and thrive in challenging times.
Speaking about this strategic collaboration, Ranil Dissanayake, DGM Branch Credit at Seylan Bank, expressed enthusiasm for the positive impact the initiative would have on the MSME/SME sector. “We are proud to partner with the Asian Development Bank and the Government of Sri Lanka to support the growth and development of small and medium-sized enterprises. Through our competitive loan offerings and dedicated services such as the SME Hub and Export Expert, Seylan Bank aims to be a catalyst for success for businesses across various industries.”
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
Rahuman questions sudden cancellation of leave of CEB employees
