SDB bank partners with National Enterprise Development Authority


Omar Kamil


SDB bank (SANASA Development Bank PLC), a pioneering financial institution founded on supporting the grassroots levels of Sri Lanka, recently signed a memorandum of understanding (MOU) with the National Enterprise Development Authority (NEDA) to further extend its support to the micro, small and medium entrepreneurs in Sri Lanka. The MOU primarily aims to encourage and guide prospective entrepreneurs in the rural communities while further uplifting existing business players in the micro, small and medium enterprises.

National Enterprise Development Authority (NEDA), an institution established under the Ministry of Industry and Commerce currently serves the MSME sector with 235 development officers attached to the divisional secretariats, to elevate Sri Lankan enterprises to be an integral part of the economy. Identifying the role micro, small and medium enterprises play in developing the economy of a country and the importance of empowering citizens to be self-employed, NEDA has been actively involved in creating awareness among the rural communities about the boundless opportunities unveiled through entrepreneurial initiatives. NEDA works with entrepreneurs to assist them in executing their business ideas and supports the progress of the business through continuous guidance and monitoring.

While commenting on the MOU signed with SANASA Development Bank PLC, Omar Kamil – chairman of NEDA said, "This new partnership will certainly add value to the work being carried out by NEDA currently as we now stand as a consolidated business development service provider to the prospective entrepreneurs in the country. We selected SDB as our partner in this instance as we identified them as an entity that spoke the same language as us. Being a financial institution extremely receptive to the needs of the grass roots of our country, their goals aptly complement our vision. Moreover, as we both intend to widen the scope of the SME sector in the country, it was easy to venture into this business partnership and lay out our objectives". - SDB bank

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