IFC, NTB help small businesses become more competitive
IFC, a member of the World Bank Group, is working with Sri Lanka's
Nations Trust Bank (NTB) to help up to 30,000 small business owners
become more competitive through a series of advisory interventions,
sharpening their readiness to access new markets.
With IFC's advisory assistance, the bank has strengthened its
institutional capacity over the last two years to expand product
portfolio, service small business clients, and increase access to
financial services for them. The bank is now using IFC's SME Toolkit, an
online resource that provides training and management tools for small
businesses through multi-lingual 'how-to' content, to train staff
members who in turn will train the bank's entrepreneur clients.
“IFC's support has helped us broaden our reach and introduce more
financial products to cater to the small and medium entrepreneur
better,” said Keshini Jayawardena, Deputy General Manager, Retail and
SME Banking, Nations Trust Bank. IFC's broader program
is assisting the bank gain exposure to international best practices
in risk management and compliance with Basel requirements.
Adam Sack, IFC Country Manager for Sri Lanka and Maldives, said,
“Nations Trust Bank's expansion plans complement IFC's mandate to
promote inclusive growth through increased access to financial services
across the country.”
Over 6,000 micro and small entrepreneurs in Sri Lanka have been
trained under the SME Toolkit program that was launched
in Sri Lanka in 2008 with Dialog Axiata as local partner. It is
adapted to suit local needs, with training imparted in English, Sinhala
and Tamil.
This Toolkit site attracts over 25,000 unique visitors every year.
Sri Lanka is a priority country for IFC and its committed portfolio
of $180 million in Sri Lanka covers projects across a range of sectors,
including infrastructure, tourism, renewable energy, finance, and health
care. |