District Chambers of Commerce to set up financial institution

To facilitate loans for SMEs:

Anuradhapura District Chamber of Commerce Chief Executive Officer P.B. Dissanayake said that a specialized financial institution will be set up to furnish loan facilities to develop the SMEs in Sri Lanka with the contribution of all the District Chambers of Commerce.

The senior officials of 28 District Chambers of Commerce participated in the preliminary discussions held recently.

These discussions were organized by the Anuradhapura District Chamber of Commerce Chief Executive Officer P.B. Dissanayake and the Central Province Chamber of Commerce Chief Executive Officer A. Abeywickrema sponsored by the Asia Foundation.

Dissanayake said, "so far in our country, there is no specialized financial institution to provide financial facilities to SMEs. This is a major obstacle to the development of this sector. So many financial institutions are launched but they put up their shutters within a very short time. Other stronger institutions do not take any notice of SMEs".