Mon, 27 May 2024 Today's Paper

People’s Bank and EDB forge strategic alliance to boost exports

15 May 2024 12:21 am - 0     - {{hitsCtrl.values.hits}}


People’s Bank Chairman Sujeewa Rajapakse and the Chairman of the Export Development Board Kingsley Bernard are seen exchanging the MoU


Sri Lanka Export Development Board (SLEDB) yesterday announced it entered into a strategic partnership with People’s Bank  to boost the local export sector.
The partnership between EDB and the state bank endeavours to invigorate the country’s export landscape by identifying and supporting existing exporters, fostering potential market entrants, and catalysing 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’s broader economic objectives. 

People’s Bank has already established Export Sector Specific SME Hubs (Export Hubs) across five strategic 7branches, leveraging its extensive network of 747 branches island-wide.
The collaboration will also focus on educational initiatives for People’s Bank staff, ensuring they are well-equipped to advise customers on export market requirements and opportunities, thus enhancing the bank’s foreign exchange portfolio.
Sri Lanka Export Development Board will contribute its expertise by identifying global market opportunities and facilitating the necessary prerequisites to promote exports from Sri Lanka.

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