The Asian Development Bank has approved a loan of 100 million US dollars to Sri Lanka.
It is to provide greater access to finance to Sri Lanka’s small and medium-sized enterprises and build resilience to external shocks such as economic crisis and climate change.
“Small and medium enterprises play a crucial role in Sri Lanka’s economy. Also, while contributing 52% to the country’s gross domestic product, 45% of the population is employed. It is therefore important to provide the necessary support to SMEs, especially women-led enterprises, to sustain and grow the sector’s contribution to the economy. This provides working capital and improves access to finance for small and medium enterprises. Helping them expand operations and prepare for the changing environment.” Ms. Manohari Gunawardena, Asian Development Bank’s senior finance specialist, said.
