The Sri Lanka Export Credit Insurance Corporations is looking to raise its liability exposure to Rs. 40 bn with the expansion of its product portfolio.
Current liability exposure has reached Rs.
13 bn, up from around Rs. 4 billion in April this year. rn
rnTo support its portfolio expansion, SLECIC Chairman Hemaka de Alwis says a plan to raise fresh capital on concessionary terms is being formulated. rn
rnSLECICs product portfolio diversification will also include concessionary financing for exporters and discounting bills. rn
rnTo facilitate the changes the management will tinker with its Act to allow it to raise public funds and offer refinance facilities. rn
rnCabinet has already approved the changes and SLECIC is awaiting parliamentary approval to convert itself into a limited liability company. rn
rnldblquote We want to be the EXIM Bank for Sri Lanka, offering export guarantees, policies and refinancing facilities to banks to lend for exporters in the long-term, dblquote Chairman Hemaka