RDB can help sustain growth momentum - Dr P B Jayasundara

Sanjeevi Jayasuriya

The Regional Development Bank (RDB) will have the responsibility to support rural economy in sustaining the country’s growth momentum. It needs to create an environment where the small and medium sector could benefit, Finance and Planning Ministry Secretary Dr P.B. Jayasundara said.

The RDB is ready to take off. This would set an example for the development of banking industry. Development should take place outside Colombo and the bank should reach the masses, particularly the rural community, he said.

The RDB will be positioned as a national level bank. This is the first time that large number of banks were merged into a single bank. The RDB was set up by merging the country’s six regional development banks into a single bank, Dr Jayasundara said.

The RDB will play a vital role in the country’s economy as it is more focused to support the rural development.

The bank will assist small and medium sector and will contribute to revive the ailing enterprises with low cost funding, Regional Development Bank Chairperson Janaki Kuruppu said.

The RDB will provide an efficient and friendly service reflecting on new Sri Lanka with a local touch.

The bank will work towards empowering Sri Lankans at the micro level, she said.

“We plan to enhance the capital base and the mechanism for capital infusion will be decided shortly. The bank will provide funding for agriculture, tourism sector support services and infrastructure development with an aim to make Rs one billion profit by the end of the year, she said.