ComBank with IFC develops MSMEs’ skills

Commercial Bank of Ceylon conducted 27 skills development programmes for micro, small and medium enterprises (MSMEs) in collaboration with the International Finance Corporation (IFC) in 2023, using a standardised format developed to revitalise MSME businesses. 

These programmes were conducted in areas such as Negombo, Ratnapura, Vavuniya, Kandy, Kadawatha, Akkaraipattu, Jaffna, Nuwara Eliya, Badulla and Minuwangoda and the topics covered were revisiting business strategy (operational plan/human resources plan), profitability and productivity (financial resilience/basics of borrowing), digital transformation and digital market place (trends/benefits/handling customers/payment options/policies and security/best practices), digital brand management (online presence/content marketing/marketing brand management/measuring results) and women empowerment and entrepreneurship, which was exclusively for women entrepreneurs.

The training was delivered by certified trainers of the IFC and will be continued by Commercial Bank staff trained under a Training of Trainer programme conducted by the IFC, the bank said.

Prior to the launch of this special series of training programmes to enhance the knowledge and skill of MSMEs, Commercial Bank partnered with the IFC to carry out training needs assessments (TNAs), design modules and pre- and post-evaluation forms, conduct pilot programmes and to train bank staff to be the training resource persons for future programmes and mentor SMEs.
“Commercial Bank has always devoted special attention to SMEs and is the biggest lender to this segment in Sri Lanka,” Assistant General Manager Personal Banking/SME S. Ganeshan said. 

“The objective of SME skills programme is to increase the business management skills of our existing and potential MSME clients and to mitigate the long-term negative impacts of the COVID-19 pandemic and current economic crisis. Our ultimate goal is to establish a sustainable business operation for MSMEs.”
The bank said the programmes conducted for the SMEs are particularly important in the context of the severe setbacks they faced in the wake of the unprecedented challenges brought about by the COVID-19 pandemic and subsequent economic crisis.