Lankapage Logo CP 21 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to

Leading News from Sri Lanka::

* SDB Bank Chairman Lakshman Abeysekara elaborates the way forward of development of SME sector in Sri Lanka
Thu, Mar 4, 2021, 12:42 pm SL Time, ColomboPage News Desk, Sri Lanka.

Mar 04, Colombo: The Institute of Chartered Accountants of Sri Lanka in collaboration with SDB Bank launched the third initiative to support the small and medium size entrepreneurs (SMEs) in Western Province on February 28 2021 at Grand Monarch, Sri Jayewardenepura Kotte with the participation of Manil Jayesinghe, President CA Sri Lanka, Lakshman Abeysekara, Chairman SDB Bank as well as the SME Task Force established by CA Sri Lanka for this purpose and Thilak Piyadigama CEO of SDB Bank.

This program was launched previously in Southern and Central provinces in December 2020 and in January 2021 respectively.

This is a unique program where volunteers of CA Sri Lanka and AAT Sri Lanka engage in a process of mentoring the selected SMEs of the SDB Bank over a period of time by visiting their business places and guiding them with necessary skills.

The intention of the program is to uplift the capacities including financial literacy and the business acumen of the SMEs spread throughout the country so that on one hand they can deal with the financial institutions effectively and on the other hand they can get the skills and advice needed to take their businesses to the next level.

It is expected that with an independent voluntary professional playing the role of the mentor, the bank can depend to a great extent on the mentor in the process of converting from security-based lending to cash flow based lending which is a much-needed phenomenon in developing the Sri Lankan economy to the next level.

Mr. Lakshman Abeysekara, elaborating on the way forward of development of SME sector in Sri Lanka said that it was their intention to create a SME Academy to support the SMEs ongoing basis and to create a credit guarantee support system to step in when the SMEs do not have sufficient security to provide at the time of sourcing of loans. He invited USAID who was represented by Jude Fernando and Juan Forero at the event to join hands with CA Sri Lanka in this endeavor.

CA Sri Lanka President Manil Jayasinghe expressed his enthusiasm to bring modern Agriculture practices and technology though the mentoring program to develop rural Agriculture based communities. SDB bank being the apex bank of cooperative sector is the ideal platform to reach rural Agriculture based communities. Sanasa movement has 8000 rural Thrift and Credit societies consisting of one million members. Thilak Piyadigama CEO of SDB Bank is committed to provide technology and other necessary support.

Sunil Rathnayake, CEO/ Managing Director of Teleview, a professional engineer turned entrepreneur and creative person in art, joined as a media support partner at the event and also would connect markets of mentees both local and international.

After the ceremony entrepreneurs were introduced to the mentors in the presence of the respective bank managers. It is planned to launch this program in all provinces of Sri Lanka and to support at least 500 deserved SMEs.


ColomboPage - Recent 10 Stories ::
Coronavirus update: 284 new COVID-19 cases identified Saturday, total rises to 94,848
-- [8 hours ago]
FM apprises EU envoys on political and economic developments in Sri Lanka
-- [8 hours ago]
Rs. 5000 allowance to low income and Samurdhi recipient families for the New Year
-- [9 hours ago]
India- Sri Lanka Police Chiefs’ Dialogue aims to enhance existing cooperation between the police forces
-- [9 hours ago]
109 samples of coconut oil certified to be free of toxic chemicals
-- [9 hours ago]
Sri Lanka reports one COVID-19 death Saturday, toll rises to 596
Sri Lanka Air Force swimmer Roshan Abeysundara to swim across Palk Strait from Talaimannar to Dhanushkodi and back
India finalizes an air bubble agreement with Sri Lanka
As Sri Lankan economy recovers, focus on competitiveness and debt sustainability will ensure a resilient rebound - World Bank
Post-harvest losses of fruits and vegetables cost Sri Lankan economy Rs. 20 billion annually

Copyright © 2000, 2020 by (LLC) :
The news and other contents on ColomboPage are copyrighted property of, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.