Business
USAID signs MOU with HNB to expand financing to MSMEs
The U.S. Agency for International Development’s (USAID) Private Sector Development project signed a Memorandum of Understanding (MOU) with Hatton National Bank PLC (HNB) to expand financing to micro, small, and medium enterprises (MSMEs) in Sri Lanka.
“Partnerships like this can dramatically enhance economic and social impact more than any of us could achieve on our own,” said Reed Aeschliman, USAID Mission Director for Sri Lanka and Maldives. “Through this partnership with HNB, we are fostering the next generation of successful businesses in Sri Lanka and ideally, helping families and communities thrive.”
Through thisinitiative, USAID’s Private Sector Development project will work with HNB staff to improve their skills in serving MSME clients by better understanding their unique needs and constraints. It will help HNB to develop products and processes that make it easier for MSMEs to get access to finance.
“Over a span of more than 30 years, HNB has played a pivotal role in Sri Lanka’s vital MSME sector. In that time, we have worked in close partnership with entrepreneurs at the grassroots of our economy and gained a deep understanding of the challenges they face. Crucially, HNB also has a wealth of first-hand experience working with a large number of MSMEs, to understand what these enterprises need in order to accelerate their growth to strengthen the export economy of the country,” said HNB Chief Executive Officer and Managing Director, Jonathan Alles.
“Educating entrepreneurs and ensuring they have the knowledge to make informed choices strengthens their resilience and growth potential. Through our continuing partnership with USAID to support several programs for the benefit of this sector, we have seen the fruits of this labor manifest through better access to finance for our MSME customers. Therefore, we are delighted to be the first to join USAID on this empowering initiative, and we invite MSMEs to make use of this golden opportunity to strengthen and grow their businesses,” Alles concluded.
USAID’s Private Sector Development project will help MSMEs find and finance new business opportunities to strengthen their resilience to market changes and global economic shocks. By connecting businesses with advisory services, associations, and financial institutions, the project will help them to use technology, accelerate innovation, and access new domestic and international markets.
This project is one component of the longstanding partnership between the U.S. and Sri Lanka to support self-reliance, strengthen stability, and promote economic growth. USAID’s program in Sri Lanka, totaling more than $2 billion since 1961, promotes a healthy, educated, and employed population.
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.”
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