Union Bank and NEDA in partnership to support SME development

Wednesday, 28 August 2013 00:00 - - {{hitsCtrl.values.hits}}

Union Bank of Colombo PLC entered into a partnership with the National Enterprise Development Authority (NEDA) to facilitate and proactively support the development, growth and competitiveness of Sri Lankan enterprises.

The agreement between Union Bank and NEDA was signed by Ravi Divulwewa, Vice President – Credit, Union Bank and N. M Shaheid, Chairman and Director General, NEDA at a ceremony held recently to commemorate the occasion. As per the agreement, NEDA will support Union Bank’s ‘Viyaparika Saviya’ initiatives which provide expertise and advisory services to existing and growing entrepreneurs. Union Bank’s ‘Viyaparika Saviya’ program supports the business activities and endeavours of new and existing enterprises. It provides free advice in managing business operations and provides a platform for budding entrepreneurs to access a comprehensive portfolio of financial products that are customised for the SME sector with competitive benefits. This partnership will facilitate both financial assistance and guidance by NEDA to enable Union Bank to carry out successful entrepreneurship development programs. The National Enterprise Development Authority was established under the purview of the Ministry of Industry and Commerce to promote, support, encourage and facilitate enterprise development within Sri Lanka with special emphasis to the small and medium enterprise sector of the country. Union Bank has evolved as one of Sri Lanka’s fastest growing banks focusing on small and medium enterprises and retail sectors. The Union Bank and NEDA partnership will help further strengthen the bank’s focus in the SME sector and the bank will continue to aggressively develop a robust structure to absorb new opportunities in the SME sector.