Thursday, 29 August 2024 13:37

Sri Lanka to sign cooperation agreement with IFC to boost SME exporters Featured

Sri Lanka’s small and medium-sized enterprises (SMEs) are to be transformed into active exporters making use of their export potential with the assitence of International Finance Corporation.

The Cabinet of Ministers on Monday approved signing a cooperation agreement between the Export Development Board of Sri Lanka (EDB) and the International Finance (IFC) aimed at transforming this SME sector.

The proposal presented by President Ranil Wickremesinghe in his capacity as the Investment Promotion Minister received the necessary clearances from the Attorney General and the recommendations from the Foreign Affairs Ministry, paving the way for the agreement’s formalisation.

“This agreement forms part of a broader initiative by the EDB to foster new exporters and expand the country’s export sector,” Cabinet Spokesman and Minister Bandula Gunawardena said on Tuesday at the weekly post-Cabinet meeting media briefing.

 

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