NTB launches Rs. 7 bn fund to support economic revival
View(s):Nations Trust Bank (NTB) has launched a Rs. 7 billion internally- generated fund aimed at extending financial support to key industries and enabling them to recommence their businesses and in turn boost the national economy.
With the “Nations Diriya” support fund, the bank will reach out to exporters under “Nations Apanayana Diriya” and to local manufacturers under “Nations Vyapara Diriya”, the bank said in a media release.
The facilities are designed to support corporates and SMEs by offering attractive credit facilities at competitive rates. Through this initiative, NTB will help rebuild a range of industries engaged in direct or indirect export-oriented business and for businesses engaged in local manufacturing to help uplift the economy at large by providing the much needed financial support.
“Nations Diriya” is formulated to offer financial support to businesses in local manufacturing, fisheries, value added agriculture, tea, processed food, beverages, spices, coconut and coconut-based products, as well as manufacturers of chemical products, minerals and essential oils.
“We believe that it is our responsibility to support the nation to overcome the economic impediments that the pandemic brought upon us. Given that it was completely unexpected, no individual or business had time to adjust to the challenges that came their way,” said Priyantha Talwatte, Director/Chief Executive Officer of NTB.
He said their facilities are extended across multiple industries and business sectors to help the economy at large. “We are focused on providing diverse businesses much needed relief and thus supporting them at this critical hour. Most businesses can revive successfully if the right support is given immediately and thereby overcome and expand in the long term. Therefore, we urge companies to make use of this excellent opportunity and together we can overcome this crisis,” he added.
Over the past months, the bank had focused on critical areas such as guiding and creating awareness on the safety measures that need to be followed during the COVID -19 pandemic as well as motivating and advising customers on the importance of staying focused while setting realistic goals for the future.
“Understanding the national responsibility as a bank to support the frontline of the healthcare sector that was protecting the citizens of our nation whilst risking their own safety and lives during the COVID 19 outbreak, NTB pledged to provide 4,500 medical scrubs to healthcare workers in collaboration with the Sri Lankan Navy,” the statement said.