ADB Expands Access to Credit for Micro and Small Rural Enterprises in Sri Lanka

Date: 
15 Feb 2019

The Asian Development Bank (ADB) has approved a $50 million loan to the Regional Development Bank (RDB) of Sri Lanka to provide affordable and accessible credit to rural micro, small, and medium-sized enterprises (MSMEs) in the country.

“Limited access to finance is a key barrier facing entrepreneurs in Sri Lanka,” said ADB Financial Sector Specialist Mr. Takuya Hoshino. “The project will not only directly fund $50 million of long-term financing to micro and small enterprises outside of Colombo, including 500 women-led businesses, but also be structured to provide the regulatory capital that would leverage up to an additional $533 million of lending to MSMEs.”

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Type: 
General
Region: 
South Asia
Country: 
Sri Lanka