IFC road show to promote SMEs in Ratnapura

IFC, a member of the World Bank Group, is organising a banking road show in Ratnapura, Sri Lanka to facilitate access to finance for local small and medium enterprises, The event will be held at Samurdhi Reception Hall on October 17 and 18.

The road show, which is part of a series, provides a unique opportunity for local small and medium enterprises to meet with banks that are involved in financing smaller businesses.

Participants will include the Commercial Bank, DFCC Bank, Hatton National Bank, Nations Trust Bank, NDB Bank, and Sampath Bank.

Similar events have been held in Colombo, Hambantota and Matara.

IFC Manager for South Asia Per Kjellerhaug said, “Our past events proved to be excellent platforms for facilitating access to fiance for small and medium enterprises, while helping Sri Lankan financial institutions look at funding SMEs as a bankable proposition. The road show in Ratnapura will aim to achieve the same objective.”

Small businesses in Sri Lanka find it difficult to obtain credit from local banks because of structural weaknesses. “The event will arrange consultations between Sri Lankan banks and small businesses.

There will also be sessions on handling complex loan applications, preparing business plans and project proposals, and establishing new banking products for small and medium businesses,” IFC Financial Markets Specialist Deva De Silva said.

To expand the scope and relevance of the road show, the Sabaragamuwa Chamber of Commerce and Industry, the Export Development Board, the Industrial Development Board, and the Industrial Technology Institute will each offer advice to entrepreneurs on the incentives, services and concessions available from their respective institutions.