People’s Bank, EDB ink MoU to boost export sector
In a landmark move aimed at propelling Sri Lanka’s export sector to new heights, the Sri Lanka Export Development Board (SLEDB) and People’s Bank have entered into a strategic partnership through the signing of a Memorandum of Understanding (MOU) in Colombo.
This partnership endeavors to invigorate the country’s export landscape by identifying and supporting existing exporters, fostering potential market entrants, and catalyzing economic growth through amplified foreign exchange earnings and enhanced employment opportunities. Under this partnership, People’s Bank will offer financial advisory services, funding facilities, and trade finance options, to enhance the export capabilities of existing exporters, nurture potential new entrants and elevate indirect exporters to direct export status.
This strategic alliance aims to bolster the development of Small and Medium Scale Enterprises (SMEs) and integrate them into the global export market, aligning with the Government of Sri Lanka’s broader economic objectives.
People’s Bank Chairman Sujeewa Rajapakse stated “The collaboration with EDB is yet another example of the bank’s efforts to build greater synergies to support this drive.”
Chairman of the EDB, Dr. Kingsley Bernard said “Adopting an export-led investment approach is key to building economic stability and growth in the country. The collaboration with People’s Bank which has the largest customer base in the country is a great source of strength to our endeavors to diversify and expand Sri Lanka’s export capabilities”.
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