Germany provides assistance for Sri Lanka SME ventures

Germany provides assistance for Sri Lanka SME ventures

6 June 2019 02:24 pm

The Sri Lankan-German SME Development Programme aims to support a cohesive policy framework enabling SMEs to grow in an eco-friendly manner through a wide range of technical assistance, innovation and improved access to finance, German Embassy sources confirmed.

The Government expects to establish 50 agro and fishery entities, 25 majority women owned entities and 150 youth centric startups.  

These entities will be established under the Companies Act or legally registered corporative societies or farmer organizations.  

The German International Cooperation (GIZ) has been selected as the consultant for this assignment and they have provided the required technical assistance for the SME Companies will be established under this programme.  

Accordingly, seven (07) societies and one (1) SME Company have already been registered.  

The Government has also planned to provide subsidized loans such as 75 percent of monthly installment including the loan installment and the interest for small and medium sized companies, 85 percent of the monthly installment including the loan installment and  the interest for women-led SME companies and 90 percent of the monthly installment including the loan installment and the interest  will be paid for SME companies operated by differently abled persons through the “Enterprise Sri Lanka” Credit Scheme to these Companies.