The United States is providing a welcome boost to Small and Medium Enterprises (SME) in Sri Lanka struggling with the impact of the pandemic, a statement said.
The U.S. International Development Finance Corporation (DFC) is awarding a USD75M funding line to NDB Bank to support its work in expanding and strengthening the SME sector, particularly among women business owners. The funding agreement directs a portion of the loan to businesses that are owned by women, led by women, or provide a product or service that empowers women.
“Improving access to finance will enable women business owners in Sri Lanka to realize their full economic potential and will also help the Sri Lankan economy to grow,” said U.S. Ambassador to Sri Lanka Alaina B. Teplitz. “The United States is committed to ensuring women are employed by and in senior management positions in their own organizations.”