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| Friday, 11 February 2005 |
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SLECIC to extend services to N/E by Irangika Range and Anjana Samarasinghe Sri Lanka Export Credit Insurance Corporation (SLECIC), in collaboration with the Export Development Board will set up Information Services Centres in Jaffna, Trincomalee and Ampara. Addressing the media in Colombo yesterday the Chairman and Managing Director of the SLECIC N. Bennet Cooray said that the SLECIC will promote export of the SMEs by providing credit guaranties for Commercial banks and their oversees buyers. The development in SME sector can generate more employment opportunities and would improve productivity especially in the agricultural sector. SLECIC's plans include garnering the support of co-operative societies is to be the collection centres for export oriented products from SME especially in the rural areas. He said that SLECIC now offers pre-shipment credit guarantees and export production credit guarantees. "The guarantees make it possible for commercial banks to offer working capital finance for value addition thereby providing indirect, yet powerful incentives that redirect the flow of geuda stones through the local value chain,' he said. "The credit guaranty service which is implemented with the Hatton National Bank and Seylan Bank covers the entire pre and post shipment export credit portfolio of banks with simplified documents and procedure. This scheme has made it much easier for new and small scale enterprises to get liberal export finance from banks," he said. SLECIC has shown a significant growth of its provisional premium income recording a Rs.152.5 million while honouring claims worth Rs.62 million last year. |
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