Sri Lanka government and ADB sign USD 165Mn loan agreement to aid COVID-hit SMEs

The Government of Sri Lanka entered into loan and grant agreements with the Asian Development Bank (ADB) to obtain a loan of USD 165 million and grants worth of USD 3 million from the Japan Fund for Poverty Reduction (JFPR), to provide a credit line to the Small and Medium – Sized Enterprises (SMEs) through ten qualified Participating Financial Institutions (PFIs)

Nov 27, 2020
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The Government of Sri Lanka entered into loan and grant agreements with the Asian Development Bank (ADB) to obtain a loan of USD 165 million and grants worth of USD 3 million from the Japan Fund for Poverty Reduction (JFPR), to provide a credit line to the Small and Medium – Sized Enterprises (SMEs) through ten qualified Participating Financial Institutions (PFIs).

S R Attygalle, Secretary to the Ministry of Finance on behalf of the Government of Sri Lanka and Chen Chen, Country Director of ADB Sri Lanka Resident Mission on behalf of ADB, signed the Loan and Grant Agreements to obtain USD 165 million worth of loan and USD 1.25 million worth of grant on 25th November 2020 at the Ministry of Finance.

“The government highly appreciates ADB’s long-term commitment to supporting Sri Lanka’s development. SMEs will be essential to recovery from COVID-19. The new loan from ADB will help the government’s efforts of supporting SMEs in and after the COVID-19 pandemic,” said Mr. Attygalle.

http://www.colombopage.com/archive_20B/Nov26_1606406772CH.php

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