Navara Capital, training partner for USAID CATALYZE PSD Activity

Navara Capital Ltd, a leading corporate advisory service provider in the country, has been appointed as the training partner for the United States Agency for International Development (USAID) CATALYZE Sri Lanka Private Sector Development (PSD) Activity, to train staff members of selected private sector banks and other financial institutions on debt restructuring, debt rehabilitation and new financing for micro, small and medium enterprises (MSMEs).  The training programmes are designed to provide staff members of leading banks and financial institutions with additional knowledge and in-depth understanding of the challenges faced by the MSMEs as well as in dealing with the MSME in debt restructuring, rehabilitation and new financing. It is expected that the programme will support these organisations to expand their support towards the MSMEs by providing them with access to new financing and more equitable solutions to their debt-related problems. 

“We are excited to be part of this great initiative by the USAID CATALYZE PSD Activity, which has recognised and addressed a critical deficiency in providing the much-needed support to the country’s SME sector,” said Navara Capital Managing Director Dr. Harsha N. De Silva.

“Sri Lanka’s MSME sector is the bedrock of our economy contributing over 50 percent of the GDP and 45 percent of the total employment. Unfortunately, this sector was the worst affected by the pandemic and the economic crisis and continues to experience severe challenges due to debt burden and lack of access to financing.  This programme is designed to encourage banks and financial institutions expand their support for the MSMEs while addressing their own concerns about credit risk and mounting debt provisions. We are pleased to be appointed as The training partner and look forward to bringing our experience and expertise with both banking and SME sector in design and delivery of the programme. We are extremely encouraged by the response with several leading banks already reaching out,” he further added.