Colombo Chamber wants pre-shipment collateral-free loans to boost exports

May 17, 2020 (LBO) – Colombo Chamber of Commerce appeals to the President for intervention to instruct banks to support the SME and MSME exporters with pre-shipment collateral-free loans up to 75% of the value of export order with a maximum cap of Rs 5 million based on actual export orders and firm contracts.

Addressing the President in a letter, the chamber said that as per the government directive CBSL has already guaranteed up to 75% of the loans, banks should not have any qualms to act proactively in support of the President’s National Export Drive.

“Colombo Chamber of Commerce and its members will be most grateful if this deserving appeal is granted which is in National Interest to re-boot and boost our economy post-Covid-19,” the statement added.

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