NDB continues to empower local exporters

Placed amidst of wave of opportunity, today Sri Lanka is poised for sustainable economic development. In this context of emerging national prosperity, exports play a pivotal role in driving the much anticipated economic progress.

NDBcarries over 30 years’ heritage of commitment towards exports development in Sri Lanka. Having understood the significance of the exports industry and foreseen its limitless prospects, the Bank has extended its unwavering support to the export sector; from its inception. Amidst the Bank’s numerous contributions made towards this sector, is the sponsorship of the Annual Exports Awards hosted by the National Chamber of Exporters (NCE) which had been one of the long term commitments towards the industry by NDB. Accordingly, this year too NDB will be the sponsor of the "Most Outstanding Exporter- Sector Wise Awards" category of the 21st Annual NCE Exports Awards 2012 which is scheduled to be held on 20th September 2013. This category of awards recognizes the outstanding achievements of the local exporters across several key sectors of Agriculture, Tea, Manufacturing, Garments, Services, Gems and Jewellery and the like. The Annual Exports Awards of the NCEis the premier award ceremony which is specially designed to recognize and reward the outstanding exporters in the country. The annual ceremony is a prestigious event attended by exporters, a wide cross section of the Private and Public Sectors as well as the Diplomatic Community and leading NGOs.

Commenting on the sponsorship, BuwanekaPerera, Vice President and Head of Corporate Banking of NDB said, "Exports are the main foreign exchange earners for the country and present many prospects for growth and diversification. Therefore, giving exports the due recognition and priority while maximising on the opportunities in the international market place is a task of national importance. This sponsorship is a long standing commitment of NDB to the NCE Exports Awards and the Bank is indeed pleased to be a part of this national endeavour. For over 30 years, NDB has extended its firm commitment towards empowering Sri Lankan entrepreneurs to improve their export potential. Initially as a development bank and now as a fully-fledged commercial bank offering a wide range of financial solutions, we continue to support the industry. Our sponsorship of the ‘Most Outstanding Exporter’ award category at the National Chamber of Exporters Annual Awards Ceremony this year, is a reiteration of our commitment in recognizing and rewarding the efforts of individuals in different sectors for their efforts in taking the ‘made in Sri Lanka story’ to overseas markets".

"NDB’s expertise in project finance, investment banking, wealth management and stock-broking enable the Bank to package the funding requirements in many areas in the form of low cost debt, equity and working capital to suit the needs of the exporters" Perera further stated.

NDB provides specialised financial services that are designed to meet the dynamic needs of the exports industry. NDB’s Corporate Banking division extends expert financial advice coupled with diverse trade finance tools that include pre-export loan facilities and export bill discounting facilities to help meet the funding needs at the post shipment stage. Advising of Letters of Credit (LCs), processing collection bills and issuing shipping guarantees are amongst the many specialised services extended by NDB to the local exporters. The Bank also grants foreign currency loans to exporters at competitive rates and funds the working capital cycles of the exporters through customised short and medium term loans.

NDB also remains dedicated towards the development of Small and Medium Scale Exporters and serves them with special products devised to cater to this emerging sector for whom the costs and access to finance is a serious impediment.NDB supports the SME exporters through grants, loans and other low cost credit facilities coupled with the expertise of Professional Financial Advisors that assess the needs of customers, evaluate related risks, structure finance, monitor and supervise the credit facilities.

"The Export Sector continues to face the effects of the global economic crisis. This calls for aggressive action in seizing immediate opportunities of the international markets to stay ahead of competition. We are appreciative of this initiative of the NCE, whichencourages entrepreneurs to continuously improve the performance of their companies. In order to remain competitive in the current context, local exporters need to develop their standards in terms of quality of products, efficiency of delivery as well as ease of transaction. Hence such initiatives as NCE’s annual recognition awards for the export industry is imperative to continuously improve the standards of this sector. As a Bank committed for national economic development, NDB will remain steadfast in its attempts touplift the exports industry", Perera reiterated.

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