USAID coordinates with Keells, HNB for USD 4 million aid

USAID coordinates with Keells, HNB for USD 4 million aid

• In Srilanka, the United States Agency for International Development (USAID) has coordinated with Keells Supermarkets and Hatton National Bank (HNB) on a supply chain financing facility that supports micro, small, and medium-sized enterprises (MSMEs) in the food sector to access capital.
• The facility reduces the supply chain disruptions like those that emerged during the COVID-19 pandemic or recent economic crisis. The facility provides MSMEs with competitive fixed-interest rate financing. 
• The facility lent a total of USD 430,000 to eight suppliers in its first weeks of operations.  The partnership plans to support approximately 100 MSMEs to obtain USD 4 million worth of credit over six months.
• This partnership will enable MSMEs to meet their working capital needs, such as purchasing raw materials, paying salaries, and covering other short-term expenses, so businesses continue running smoothly. 

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Published date : 30 Dec 2022 06:10PM