Central Bank disburses Rs179 billion among COVID-19 hit SMEs

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The Central Bank (CB) has disbursed Rs.179 billion to provide immediate financial support for small and medium-enterprises (SMEs), which have been severely affected by the corona virus disease up to last month, CB Governor Prof. Professor W. D. Lakshman disclosed on Thursday.

The Asian Development Bank (ADB) has approved a $165 million loan to Sri Lanka to extend immediate financial assistance for COVID-19 hit SMEs.

This financing facility amounting to around Rs. 30 billion will be disbursed mainly among underserved SMEs, including businesses led by women and tea smallholders, Deputy Governor K. M. Mahinda Siriwardana said.

The new financing will build on the ongoing Small and Medium-Sized Enterprises Line of Credit Project, which ADB approved in 2016 to strengthen SMEs’ access to finance, official sources revealed.