The project aims to aid those entrepreneurs of Small and Medium Enterprises (SMEs) who find it difficult to finance their businesses.

Meanwhile, the establishment of a ‘National Credit Protection Institute’ was also agreed on, through which banks will prioritise asset-based lending over cash-flow based lending, allowing for less rigidity.

The ‘Small and Medium Enterprise Credit Scheme Project’ was initially implemented by the government of Sri Lanka, with financial support amounting to USD 165 million from the ADB, to provide investment and working capital loans to SMEs at concessional interest rates