HDFC Bank teams up with NEDA for SME development
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HDFC Bank General Manager/CEO Upali Hettiarachchi and the NEDA Chairman/ Director General Omar Kamil (third from right) shakes hands after signing the MoU in the presence of HDFC Bank Chairman R.J. De Silva (second from right), Chief Operating Officer S. Dissanayake and NEDA Director Lakxman Wijewardana
HDFC Bank of Sri Lanka has signed a Memorandum of Understanding with the National Enterprise Development Authority (NEDA) for developing the SME sector in Sri Lanka.
It was signed by HDFC Bank General Manager/CEO Upali Hettiarachchi and NEDA Chairman/ Director General Omar Kamil
With this move HDFC Bank will act as the official banker of NEDA Entrepreneurship Development Programmes, HDFC said in a media release.
NEDA is a government institution which promotes, supports, encourages and finds suitable financial assistance for the development of SMEs in Sri Lanka.
“ With this initiative, both organizations will work together for the development of the SME sector in Sri Lanka. Small and Medium Enterprises play a crucial role in the economic development process and helps to alleviate poverty and find solutions for unemployment in the country,” the release said.
The HDFC Bank will coordinate with NEDA to explore the possibilities of promoting credit facilities among the prospective micro SMEs identified by the bank.