ADB grants US$12.5m to boost women entrepreneurs in Sri Lanka
ECONOMYNEXT – The Asian Development Bank has granted 12.5 million US dollars to help women entrepreneurs who have difficulty accessing finance, on top of a 175 million dollar loan scheme, the finance ministry said.
"Since women led SMEs face significant difficulties in accessing finance, a grant of 12.55 million US dollars will be mobilized from the Women Entrepreneurs Finance Initiative (We – Fi)," the Finance Ministry said.
Around 9.5 million US dollars will be lent directly to business women through Sri Lankan lending institutions.
Grants do not have to be paid back.
The ADB had given a 100 million dollar credit line which had already been disbursed through Sri Lankan lending agencies. The ADB had given another 75 million US dollars in 2018.
The finance ministry said business training will be given for women entrepreneurs in former war torn North and East and also Uva and Sabaragamuwa provinces which have high rates of poverty. (Colombo/July09/2018)