People’s Bank joins hands with EDB to promote exports

From left: People’s Bank Chairman Sujeewa Rajapakse, CEO/ GM Ranjith Kodituwakku, Export Development Board of Sri Lanka Chairman & Chief Executive Suresh de Mel and DGM (Enterprise Banking) Krishani Narangoda

People’s Bank recently joined hands with the Export Development Board of Sri Lanka (EDB), in an exclusive partnership to assist in promoting Sri Lankan exports, and help prospective entrepreneurs to enter the international export market.
An inauguration ceremony was held at the Staff Training College, which was graced by the presence of Chief Guests People’s Bank Chairman Sujeewa Rajapakse, Chief Executive Officer/General Manager Ranjith Kodituwakku and Export Development Board of Sri Lanka (EDB)Chairman & Chief Executive Suresh 
D de Mel.
The programme aims to exploit new opportunities and assist existing and emerging exporters to start up a new export business or to expand their existing export business. The pilot project will kick off in six months with a progressive plan for future projects under which existing and emerging, direct and indirect exporters will be provided guidance and assistance, with the overall objective of encouraging local entrepreneurs to enter the global market. It will also contribute towards increasing foreign outflows, supporting the economy with dollar inflows, and integrating the local supply chain to the global value chain.
Through this partnership, People’s Bank will specifically select financially capable entrepreneurs for the programme, while conducting training programmes in collaboration with the EDB officials on a regional level. The bank will also initiate the initial coordination between local exporters and identified global buyers, while providing export advisory services (EAS), financial assistance in pre-shipment, post-shipment and project loan areas, and will also frequently review the program’s progress with the EDB.
The EDB will provide advisory services by assisting entrepreneurs in selecting appropriate export businesses by understanding the global demand and making use of locally sourced resources. EDB will also conduct training programmes and seminars to provide the required knowledge on the export market for entrepreneurs and investors.
Additionally, the EDB will also assist towards paving the path to integrating local exporters and global buyers, through coordination with respective embassies when seeking for buyers, and will also facilitate the local participation in global trade shows and exhibitions.