Growth Spurt

Image courtesy of Sanjeewa Dayarathne (www.Feedback.lk)

The government is mobilizing an island wide network of private sector consultants to advise the Small and Medium Scale (SME) sector. rn

rnAlready 300 private sector firms have signed up for the initiative, with the government working closely with the International Labor Organisation (ILO) to train new members. rn

rnThe fee levying service is expected to give the SME sector an opportunity to discuss their concerns, evaluate ideas and plans for expansion and receive guidelines for setting up new businesses. rn

rnAlso supporting the SME sector, the Ministry of Enterprise Development on Monday formally launched an Asian Development Bank (ADB) funded, US$ 40 million loan scheme targeted at the SME sector. rn

rnSecretary to the Ministry, Ranjith Fernando says the scheme will also benefit moderately large institutions, as the maximum borrowing limit was Rs. 35 million, much higher than any previous SME sector loan facility. rn

rnThe loans will be disbursed through the National Development Bank, Developme