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The Investor Sentiment - Equity and investments forum for Sri Lankans

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    Govt to set up a New Bank for SMEs

    Rajapaksap
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    Rajapaksap


    Posts : 155
    Join date : 2014-04-14
    • Post n°1

    Govt to set up a New Bank for SMEs Empty Govt to set up a New Bank for SMEs

    Post by Rajapaksap Wed Sep 02, 2020 8:08 am

    Govt planning SME development bank and credit guarantee agency
    By EconomyNext • Issue #80 • View online
    In your weekend briefing: Parliament passes vote-on-account for Aug-Dec 2020. Last administration also printed money: Minister Cabraal. And Investors Have Been Making the Same Mistake for 300 Years.
    Govt planning SME development bank, credit guarantee agency: CB Governor
    Govt planning SME development bank, credit guarantee agency: CB Governor
    Govt is planning a new development bank to fund small and medium enterprises and a credit guarantee fund, as part of building a ‘developmental state’ and directed lending, Central Bank Governor W D Lakshman said.
    ”Discussions are underway in the central bank now to establish a National Entrepreneurship Development Bank which could support SMEs and start-ups,” Governor Lakshman said delivering a lecture marking 70 years of its establishment.
    ”Also under discussion is a plan to introduce a permanent credit guaranteeing institution.”
    Sri Lanka’s central bank said it will guarantee risky credit given by banks to Coronavirus hit firms earlier in 2020 after the Treasury, which should take on such tasks apparently declined to do so.


    Last edited by Rajapaksap on Wed Sep 02, 2020 1:29 pm; edited 1 time in total (Reason for editing : word correction)
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