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| Friday, 25 July 2003 |
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FMO, LOLC agreement for fund leasing activities The Netherlands based International Development Agency, FMO, recently signed an agreement with Lanka Orix Leasing Co. Ltd. (LOLC) for funding leasing activities in Sri Lanka. The FMO is an organisation that supports businesses and financial institutions in developing countries with capital and know-how and the present loan is the third such loan to be offered by the FMO to LOLC. The Vienna based OPEC Fund too recently extended a line of credit to LOLC. LOLC which pioneered leasing in Sri Lanka is actively involved in funding Small and Medium Enterprises throughout the country. Their branch network has doubled over the past three years and LOLC has hundreds of customers who attribute their success to the financial assistance extended by LOLC at the correct time. |
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