“SMEs play a critical role in Sri Lanka’s economy, contributing 52% to the country’s gross domestic product and employ 45% of the population,” said ADB Senior Financial Sector Specialist Manohari Gunawardhena.

“It is therefore important to provide SMEs, particularly women-led enterprises, with the necessary support to sustain and grow the sector’s contribution to the economy.

This project will provide working capital and improve SMEs’ access to finance, helping them expand operations and prepare for the changing environment.”

This sum will be received in December and disbursed as capital through the National Credit Guarantee Institution and distributed via 13 banks within the national banking system