NDB partners Ceylon Chamber of Commerce Centre to revive Sri Lanka SMEs

From left: CCCC Manager, Business and Trade Promotion Centre for SME Unit Yasura Samarakoon, CCCC Secretary General/CEO Manjula De Silva, NDB Director/Group CEO Dimantha Seneviratne, NDB Vice President SME Middle Market and Business Banking Indika Ranaweera and NDB Manager, Liabilities Business Banking Unit Asela Thilakawardena

NDB recently signed a Memorandum of Understanding (MoU) with the Ceylon Chamber of Commerce Centre in an effort to develop the SME and entrepreneurship sector in Sri Lanka. 

NDB Vice President SME Middle Market and Business Banking Indika Ranaweera said: “The exclusive financial solutions offered by NDB Bank towards the SME sector of Sri Lanka, especially in the light of the COVID 19 pandemic will be taken further with this partnership, in order to offer a comprehensive range of business development services under a recognised centre of excellence.”

The Ceylon Chamber of Commerce (CCC) is working closely with the Government to help resolve issues faced by the businesses through a consultative process, particularly SMEs and continue to offer business development services and other assistance required for business recovery. 

The partnership between the Chamber and NDB Bank is a two-phase program for COVID-19 Revival of Sri Lankan SMEs under Recovery; Revive & Rebuild: focused on midterm and long term solutions. 

Small and Medium Enterprises (SMEs) contribute to almost half of Sri Lanka’s economy and provide employment to more than 52% workforce. The SMEs are thus an important part of the ecosystem and it is imperative that they get access to the right infrastructure to grow.

Further, NDB also introduced the ‘NDB Jayagamu Sri Lanka’ initiative in order to create a pathway for Sri Lanka’s exporters, innovators and entrepreneurs to have the necessary means to target the companies that are looking to diversify their supply chain, thus bringing in much needed revenue into Sri Lanka.

The uniqueness of ‘NDB Jayagamu Sri Lanka’ is that it is more than just a loan scheme with loan approval in seven working days to assist entrepreneurs, exporters and innovators of the country. It is also a platform in which they will receive a boost to kick start their businesses as well as a place in which they will receive the support and the means to create new innovative ways to sell their wares. NDB, along with nearly 10 non-financial service and solution partners, will assist SMEs, innovators and exporters with financial and non-financial support.