In a bid to empower small and medium scale enterprises (SMEs) and enhance their participation in the global export arena, People’s Bank and the Sri Lanka Export Development Board (EDB) have forged a strategic alliance. Under this partnership, People’s Bank will extend financial advisory services, funding facilities, and trade finance options to exporters.
EDB, tasked with identifying global market opportunities, will collaborate closely with People’s Bank to pave the way for Sri Lankan products to reach international shores. The agreement signifies a concerted effort to support SMEs in navigating the complexities of global trade and capitalizing on emerging export markets.
To ensure seamless execution of this initiative, the collaboration includes educational initiatives tailored for People’s Bank staff. Equipped with up-to-date knowledge on export market dynamics, the bank’s personnel will be better positioned to guide customers through the intricacies of international trade.
People’s Bank has taken further steps to bolster its support for exporters by establishing export sector specific SME hubs at seven of its branches. These hubs are poised to serve as dedicated centers for SMEs seeking assistance and resources to expand their export capabilities.
The partnership between People’s Bank and EDB marks a significant milestone in Sri Lanka’s efforts to promote economic growth through export-driven strategies. By leveraging each other’s strengths, the two entities aim to create a conducive environment for SMEs to thrive in the global market landscape.