The Industry Ministry has set ambitious goals to increase the manufacturing sector’s contribution to Sri Lanka’s GDP from 16% to 20% by 2030. This initiative is part of the National Industry Policy and a five-year strategic roadmap spanning 2023-2027. During a press briefing at the Presidential Media Centre, Industry Ministry Secretary Shantha Weerasinghe emphasized the
The Maldives Monetary Authority (MMA), the central bank of the Maldives, has enlisted MTI Consulting, an international strategy consultancy, to develop a green finance framework. This initiative aims to identify sectors, sub-sectors, and activities that can be considered as green. MTI Consulting will take into account internationally adopted practices such as technical screening and principle-based
Sarvodaya Development Finance (SDF) has reported its highest-ever profits for the financial year 2023/24, driven by significant growth in key financial metrics: SDF’s Total Assets grew by 27.7%, surpassing the industry average of 7.7%, while the Lending Portfolio increased by 29.5% against the industry average of 4.5%. Deposits rose by 21%, outpacing the industry’s 8.8%.
DFCC Bank has announced a significant initiative to strengthen Sri Lanka’s dairy industry by allocating Rs. 500 million to finance smallholder dairy farmers. This move aligns with the bank’s commitment to supporting sustainable development. The initiative, spearheaded by DFCC Bank’s MSME (Micro, Small, and Medium Enterprises) Unit, builds on the successful experience of lending to