SMEs to get US$ 165M COVID-19 support loan from ADB

CEYLON TODAY | Published: 4:02 PM Nov 26 2020
Business SMEs to get US$ 165M COVID-19 support loan from ADB

The Asian Development Bank (ADB) has approved a US$165 million loan to Sri Lanka.

This loan aims to provide immediate financing support for small and medium-enterprises (SMEs) affected by COVID-19.

This includes long-term financing to underserved SMEs, including businesses led by women and tea smallholders.

ADB said that COVID-19 has badly hit Sri Lanka’s economy due to the decline in demand and supply chain disruption in export-oriented industries.

CEYLON TODAY | Published: 4:02 PM Nov 26 2020

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