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| Sunday, 26 June 2005 |
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Business |  |
| News Business Features Editorial
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Kfw donates
Euro 300,000 to NDB Fishermen's Relief Trust Fund
The NDB Fishermen's Relief Trust Fund signed a Donation Agreement with the Frankfurt based financial giant kfw bankengruppe (Kfw Banking Group) for a grant of EUR 300,000.00 in Colombo to assist the tsunami affected small scale fishing industry. Kfw has finance commitments in 76 countries. Having entered Sri Lanka in 1961 it has played a significant role in development activities. It has made available to Sri Lanka a colossal sum of EUR 783.0 million in the form of concession loans and credit lines. Kfw pioneered the financing of environmentally friendly projects in Sri Lanka through various credit schemes. Colombo port development, Kankesanthurai cement factory, Randenigala and Rantambe dams are a few major projects funded by Kfw. NDB has managed various lines of credit from the German bank during the past ten years. During the 10-year period Kfw has granted various other credit lines for SME, Micro financing and training and development amounting to several billions of rupees. |
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