OeEB, OFID and DEG support Sri Lankan MSME
Seylan Bank PLC of Sri Lanka has signed a term loan agreement with OeEB, the OPEC Fund for International Development (OFID), and the German development finance institution DEG to promote development and economic growth through micro, small and medium enterprise (MSME) support in Sri Lanka.
The USD 45 million credit line is dedicated to providing financing to local MSME. Over one third of the funds will support MSME in the northern and eastern provinces of Sri Lanka which have been most affected by the country's civil war.
Additionally, OeEB provides Technical Assistance Funds for the implementation of an Environmental and Social Management System (ESMS) in order to assist Seylan Bank in meeting international standards.
For more information read the full Press Release