SMEs represent 80% of businesses and provide about 35% of jobs in Sri Lanka. CDC’s investment will equally provide capital that will allow Commercial Bank to extend credit toward renewable and climate-supportive projects. British Acting Deputy High Commissioner to Sri Lanka Bruce Bucknell said: “We welcome today’s announcement as a step towards financial empowerment for small businesses and communities throughout Sri Lanka. CDC and Commercial Bank of Ceylon’s partnership offers a blueprint for investments that could transform Sri Lanka’s economic future. We are delighted to partner with the UK government funded CDC in its quest to support SMEs, which are the backbone of the economy of our country.

Source: The Nation August 10, 2021 19:04 UTC