Since the government has recognised that women led SMEs face significant difficulties in accessing finance, a grant of USD 12.5 million will be mobilized from the Asian Development Bank's (ADB) Women Entrepreneurs Finance Initiative (We – Fi), the Ministry of Finance said today.
Accordingly, a total of USD 12.5 million will be available where USD 9.5 million will be provided to women entrepreneurs on grant basis through participating financial institutions.
The balance amount of the grant will be used for technical assistance and administrative costs.
Additional incentives will also be provided for women who complete business skills training as well as for women entrepreneurs in Uva, Sabaragamuwa, Northern and Eastern provinces.
Dr. R H S Samarathunga, Secretary to the Ministry of Finance and Media and Sri Widowati, ADB's Country Director for Sri Lanka signed the grant agreement at the Ministry of Finance and Media on Friday (06).
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