'Helping SMEs a national necessity':

EEPEX creates business opportunities

Anuradha Kodagoda

Enhancing Environmental Performance in the key Sri Lankan Export sectors (EEPEX) project for SMEs has created many business opportunities especially for financial institutions in Sri Lanka.

Director/CEO, Industrial Technology Institute, Dr. A.M. Mubarak told a media briefing yesterday that it was a national necessity to help small and medium sector entrepreneurs by facilitating their financial requirements.

With the implementation of the EEPEX project there were many opportunities for the Government and private sector financial institutions to introduce loan schemes for Small and Medium Enterprises (SMEs). The EEPEX project launched a few months ago will be implemented in 42 months.

The total project cost is Euro 1.588 million and 80 percent of the project is funded by the European Union (EU).

The overall objective is to enhance economic prosperity by making sustainable production prevalent across key industries through a switch in new culture, practice, technology and improving public health and concerns by minimising pollution in water, air and soil. "Unfortunately, up-to-date most banks have not identified this market potential where the banking sector can grow, and it would also support the SMEs as well," he said.

He called upon all private and Government sector banks to introduce loan schemes with special packages for SMEs who are engaged in the EEPEX project to help them to sustain in the business.

"We are maintaining a website to facilitate the SMEs who are engaged in the EEPEX project to share industrial information and updates of new facilities in the financial sector and other benefits of the industry," he said.

The target enterprises in EEPEX are clay-ceramics products, rubber and plastic products, leather and footwear products, coconut products, tourism enterprises, water recyclers and disposal enterprises and supporting services enterprises.