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| Sunday, 15 June 2003 |
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| News Business Features Editorial
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People's Bank reaches out to Jaffna entrepreneurs The People's Bank has launched a programme to reach out to potential customers in the Northern Province.The German government-supported Rural Banking Innovations Project (RBIP) of the People's Bank conducted a training workshop last month for the bank's Jaffna branch start to sensitize them and to upgrade their capability to approach Jaffna entrepreneurs. "We all know what the entrepreneurs in Jaffna need most is money to set up their business", said Sivapathiviruththayar, Regional Manager People's Bank Jaffna. "The training will enable our staff to mobilise more cash within the business community, which in turn will see a resurgence of economic activity in Jaffna", he added. During the workshop, participants learnt how to use networks to find customers and information about them and details about 'People's Fast', a commercial tailor-made micro loan product introduced by RBIP. The RBIP, a cooperation between the People's Bank and the German Technical Cooperation (GTZ) on behalf of the German Ministry for Economic Cooperation and Development, was established in 1996 to support the bank to re-orient itself towards commercial lending activities for micro, small and medium enterprises. "We will soon start visiting our clients", said G. Satkunabalan, Kayts Branch Manager People's Bank. "The bank, with the consultative support of the RBIP, will take the lead in providing commercial credit facilities for start-ups, expansion of businesses and investments. This will help a lot of potential enterprises to set up business". According to Armin Hofmann, Principal Adviser RBIP, commercial mircofinance is most suitable to enhance economic development because it creates employment. |
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