Citizens Development Business Finance PLC (CDB) made yet another trailblazing move to boost SMEs in the country, by disbursing the very first loan in Sri Lanka under the National Credit Guarantee Institution (NCGI) Guarantee scheme.
The loan which was granted to farmer W M G Prasanna from Welimada will support the upgrade of his farming operations to smart agricultural practices.
Prasanna who has ten years farming experience will construct a polytunnel with an inbuilt irrigation system to cultivate short-term crops with higher yields, adding to the country’s food security and instilling protection against the challenges of climate change.
With this disbursement, CDB underscores its commitment to empowering entrepreneurs and fostering economic growth which will add fillip to the country’s growth trajectory.
Further funding to be disbursed under the NCGI scheme over the next three years will focus on key sectors including manufacturing, renewable energy, Information and Communication Technology (ICT), agriculture, fisheries, healthcare and education.
A team of industry-specialised graduates has been established by CDB to strengthen SME lending and initiate customised financial solutions to drive entrepreneurship and economic growth.
The National Credit Guarantee Institution Limited (NCGI) is a Public Private Partnership between the Government of Sri Lanka and 13 leading Financial Institutions of which CDB is one.
