Nations Trust Bank and GIZ partnership to assist SMEs
Nations Trust Bank PLC and the SME Development programme of the
Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH
entered into a Public Private Partnership (PPP) to improve access to
finance for Small and Medium size Enterprises (SMEs).
Nations Trust Bank, one of the fastest growing commercial banks in
Sri Lanka, has successfully rolled out a 58 branch network offering
services to the Small and Medium Entrepreneurs across many parts of the
county and through the partnership with GIZ-SME Development Programme,
the bank plans to further increase its outreach to the SME sector which
is a key focus at present for the bank.
The SME Development programme is implemented by GIZ on behalf of the
German Federal Ministry for Economic Cooperation and Development (BMZ),
in partnership with the Ministry of Finance & Planning. As a federally
owned enterprise, GIZ supports the German Government in achieving its
objectives in the field of international cooperation for sustainable
development.
The SME Development programme works on improving and strengthening
Sri Lanka’s growing SME sector through a range of technical assistance
activities focusing on improving access to finance for SMEs; improving
competitiveness of SMEs through innovation and technology transfer; and
creating an enabling policy environment.
Recognizing that lending methodologies and products currently offered
by banks may not be appropriate for SMEs and may hinder them from
obtaining finance from banks, the SME Development programme will partner
with selected banks to support them to sustainably enhance their credit
portfolio to SMEs by establishing dedicated SME units in banks; building
capacity of bank staff; developing SME focused lending methodologies,
procedures and tools; and introducing SME focused products.
Nations Trust Bank is focused on providing a wide range of products
to the Small and Medium Entrepreneurs (SME).
The Nations Business Centres that have been opened in Anuradhapura,
Kurunegala, Batticaloa, Galle, Kuliyapitiya, Chilaw and Rathnapura are
positioned as a one-stop-shop that has been set up to offer financial
solutions to the SME’s. Nations Business Centres are equipped with
skilled staff to assist customers with their day to day financial
requirements, offer advisory services and guide them towards the use of
the SME Tool Kit - which is a web site available in Sinhala, Tamil and
English and contains useful tools, tips and information to further
expand their business.
Nations Business Banking is an exclusive proposition aimed at the SME
segment with Platinum and Gold membership privileges which translates to
a special set of benefits including a lucrative rewards scheme which is
also a part of the offering to the SME segment. Nations Trust Bank is
currently on an expansion mode and will soon open a number of Nations
Business Centres in many more locations to enhance the services offered
SME’s in the country.
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