SWITCH-Asia Sustainable Consumption and Production for Food & Beverage Sector SMEs Sri Lanka Success Stories

17th March 2012, www.dailynews.lk,

SWITCH-Asia Food and Beverages Project of the Ceylon Chamber of Commerce held a mini symposium on Sustainable Consumption and Production recently.

SWITCH-Asia Programme Project Director S.M. Sathiacama, speaking at the event said that the project which was commenced in 2009 helps Small and Medium Enterprises make their production process efficient by conserving energy and translate these savings to profits.

The implementing agency of the project highlighted the importance of food and beverage producers as well as all other manufacturers to be environmentally friendly and adopt practices that conserve energy and resources, CCC Solutions CEO Prema Cooray said.

The event was attended by a large number of the project's stakeholders in the Food and Beverages Industry ranging from plantations to dairy processing companies and representatives from the European Union, the project's funding agency and also personnel from the Ministries of Environment, Finance and Industry and Commerce.

Minister Counsellor, Head of Finance and Contracts of the European Union Wim Prud'homme highlighted the relationship between the European Union and Sri Lanka and its presence in the country for a long period of time and about its grants extended to Sri Lanka to rebuild after the conflict.

A number of stakeholders of the SWITCH-Asia Food and Beverages Project presented their successful case studies and shared their experiences and knowledge thus inspiring more and more organizations to learn and adopt their conservation success stories.

The entities that shared their success stories were: Convenience Food (Lanka) PLC, Dunagaha Coconut Producers Co-operatives Society, Foreconns Canneries Pvt Ltd, Glenugie Tea Processing Centre-Maskeliya Plantation PLC,

Laxapana Tea Processing Centre-Maskeliya Plantation PLC, Maxies and Company Pvt Ltd, Panilkanda Tea Factory-New Saman Group Pvt Ltd and Richlife Dairies Pvt Ltd. (SJ)

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Sri Lanka's First Trilingual Guide for SMEs Launched by the National Enterprise Development Authority

19th February 2012, www.nation.lk

In an effort to support the Small and Medium Scale Entrepreneurs (SMEs) in the island, the key driver of Sri Lanka’s industry sector, the National Enterprise Development Authority (NEDA) which falls under the Ministry of Industry and Commerce of Sri Lanka has recently launched Sri Lanka’s first trilingual Small & Medium Enterprise Guide Book 2012.

The Book is an operational manual for SMEs to sources of information in financing, technical assistance, Commercial bank extended loan schemes and other relevant attributes.

Image: M.S.S. Ameer Ali (Chairman/Director General of National Enterprise Development Authority, at left) presents the copies of Sri Lanka’s first trilingual SME help manual “Small & Medium Enterprise Guide Book 2012” to Rishad Bathiudeen, Minister of Industry and Commerce of Sri Lanka (centre) for its launch as Tilak Collure (Secretary, Ministry of Industry and Commerce, at right) joins in on 19 January in Colombo.

Small & Medium Enterprise (SME) Guide Book 2012 : Download here

World Bank Elevates Sri Lanka’s Status to Fnding Provided to Middle Income Earning Countries. IFC Funding for Private Sector Explored

27th April 2011, www.dailynews.lk, By Ravi Ladduwahetty

Satisfied with Sri Lanka’s economic performances, the World Bank has elevated Sri Lanka’s status to funding provided to middle income earning countries.

This follows the recent meetings the Sri Lanka delegation headed by International Monetary Cooperation Minister Dr Sarath Amunugama had with the World Bank Managing Director in Washington recently.

The other members of the delegation comprised Central Bank Deputy Governor Dharma Dheerasinghe, Assistant Governor Ananda Silva and Additional External Resources Director Sarath Kumarasiri.

Sri Lanka will be now be eligible for international Bank for reconstruction and development funding in addition to the international development assistance (IDA) funding in the World Bank deciding to provide double the funds, Dr Amunugama told the Daily News yesterday.

The assistance will be for education, health and development of national and provincial roads countrywide.

This would also mean that in addition to the concessionary funding that Sri Lanka had received through the IDA funding, it will also avail itself of the funding which will be available through IBRD funds which will be at commercial rates.

The minister also said that most concessionary funding has been made available to Sri Lanka though the World Bank and the Asian Development Bank and similarly, the standby arrangements regarding the country’s foreign reserves which is now in force with the International Monetary Fund also provides very concessionary terms. These concessions are in terms of interest rates, grace periods and periods of repayment.

Dr Amunugama also has explored the possibility of funding from World Bank associates such as the International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA) which are tailormade for the private sector which could provide funding for Sri Lanka’s private sector.

This is in the light of the IFC already having provided funding for many blue chip corporates in Sri Lanka over the years.

Meanwhile, there will also be a meeting between Treasury Secretary Dr P.B. Jayasundera and World Bank Country Director in Sri Lanka Diaerietou Gaye shortly to discuss the Country Assistance Strategy for Sri Lanka for the three year period between 2012 and 2015.

It will be at this meeting that will be decided what the projects would be, and their corresponding funding. Though the World Bank has said that it will double the allocations for Sri Lanka, the funding will be on a project- by project basis. Of the projects those in the pipeline will be the continuation of a $ 100 million allocation for secondary education for Sri Lankan schools which includes curriculum development, information technology, mathematics and science education for which the infrastructure such as the classrooms have been developed. This project is at the appraisal stage, top Treasury sources said.

There is also a US $ 100 million program for the development of the health sector which will be for the prevention of the non-communicable diseases such as heart diseases, cancer, diabetes and asthma.

The third one will be development of the network of national and provincial roads including the Ambepussa - Trincomalee Road which the World Bank will be part fund the project with the other partners- the ADB, Korea and Japan as well.

Related Info :

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Commercial Bank Disburses World Bank SME Credit Line with a Limit of Rs60mn to each Applicant

18th March 2011, www.island.lk

The Commercial Bank of Ceylon PLC has commenced operations under the latest World Bank funded Small and Medium Sector Development Facility (SMEDeF) for the development of Small and Medium Scale Enterprises (SMEs), the bank said.

Development loans worth nearly Rs. 3 billion are to be disbursed under this credit line by Participating Credit Institutions (PCIs).

The Commercial Bank entered into an agreement with the government on 9th of March, becoming the first PCI to do so out of the eight PCIs — three state and five private banks — invited by the Project Implementation Unit (PIU) of the Department of Development Finance of the Ministry of Finance and Planning, to formalise proceedings to commence disbursements.

The Bank has already commenced accepting and processing of applications for this credit facility.

Small & Medium Enterprises with an annual turnover of less than Rs. 300 million operating in the manufacturing and service sectors are eligible to apply under this facility for development loans. A floating interest rate linked to the Average Weighted Deposit Rate of the Central Bank applies for these loans. This rate is in single digits at present, the Bank said.

Purchase of plant, machinery, commercial vehicles and other fixed assets, permanent working capital requirements and construction of factory buildings can be financed through this facility.

Borrowers can also obtain Technical Advice from the Commercial Bank. The Technical Assistance facility includes comprehensive workshops at which participants will be educated on aspects crucial to the success of their enterprises.

A maximum of Rs. 60 million will be available to a single applicant under this project. The repayment period for those who obtain loans exclusively to fulfil working capital requirements is three years. For those who obtain loans for other eligible requirements the repayment period is 10 years, inclusive of a two year grace period.

Related Info :

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Ceylon Chamber of Commerce Seminar on Fruits & Vegetables Helps Small & Medium Agro Processing Enterprises

03rd February 2011, www.dailynews.lk

The Ceylon Chamber of Commerce (CCC) organized a very informative seminar focusing mainly on the fruits and vegetables sectors recently. Approximately 40 participants mainly from the agricultural sector and related service organizations attended the seminar.

This seminar was a follow-up of the Roundtable Forum on Small and Medium Agro-Processing Enterprises (SMAE) Development held in Malaysia last month at which IFCO Chairman Sarath De Silva, H J S Condiments Ltd Director A Pathirage and CIC Agribusiness Agri Education, Training and Consultancy for National Agriculture Development General Manager Senarath de Zoysa participated.

These three representatives shared the experience they gained at the forum with their fellow members. Sarath Silva who made the presentation spoke on the business models for procurement from small farmers, product innovation, differentiation, branding and labelling, quality management and compliance with standards, supply chain efficiency and logistics, enabling policies and public goods, financial services and the private sector support institutions such as commodity associations, Chambers of Agriculture and Commerce, Industry Federations etc.

Silva, Pathirage and De Zoysa agreed to assist those interested in aspects of modern training practices and any other advice relevant to the fruits, vegetables and agriculture sectors.

Image: From left - CSC Agribusiness (Pvt) Ltd Agri Education General Manager Senarath De Zoysa, the Ceylon Chamber of Commerce, Secretary General and CEO Harin Malwatte, IFCO Chairman Sarath De Silva and HJS Condiments Ltd, Director Ananda Pathirage.

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US Road Show in Sri Lanka on Doing Business. Private Public Partnership (PPP) Conference to be Held Today

13th October 2010, www.dailynews.lk, By Sanjeevi Jayasuriya

Sri Lanka will showcase investment and trade opportunities the country could offer for US companies with a series of discussions and visits for potential areas.

“We have 25 foreign company representatives who are currently in Sri Lanka exploring opportunities. There are 17 US companies and 10 Indian based US companies among the visiting delegation,” a Commerce Department official told Daily News Business.

The delegation is led by the Assistant US Trade Representative for Central and South Asia Michael Delaney together with US Government officials.

The peaceful and conducive environment in the country has helped emerging investment and trade opportunities. The delegation visited Jaffna yesterday to gain first hand information on opportunities available. The inauguration of the Private Public Partnership (PPP) conference will be held today with the participation of private sector business executives, representing US companies based in the US as well as India.

There will also be talks under the US-Sri Lanka Trade and Investment Framework Agreement (TIFA) to create awareness to capture opportunities.

The US delegate visit was organized by the Sri Lanka Embassy in Washington with the Commerce Department and the US Embassy in Sri Lanka.

Meanwhile the US Embassy in Sri Lanka, in a press release said the Embassy, together with the US Commercial Service and the US Small Business Administration, is organizing a road show seminar called Doing Business which will visit several locations in Sri Lanka. The first seminar, featuring the Assistant US Trade Representative Michael Delaney, will take place in Colombo on October 15. Subsequent seminars will be held in Galle (October 18), Kandy (October 20) and Trincomalee (October 21).

The improved business climate in Sri Lanka following the end of the ethnic conflict and the opening up of the North and East for trade and investment makes this an opportune time for the business community to learn more about increasing trade between the United States and Sri Lanka. According to the Commercial Director at the US Embassy in Colombo, Ken Kero-Mentz, this is the first Embassy Doing Business seminar that will visit some of the key provinces outside of Colombo.

It will give out valuable information to help expand rural economies and assist small and medium-sized enterprises (SME).

The “Doing Business” seminar will include in-depth presentations by officials from the US Embassy, the US Foreign Commercial Service, and the US Small Business Administration. Sri Lanka’s Export Development Board will introduce the sessions. Each seminar will conclude with a discussion led by a Board member from the American Chamber of Commerce and leaders of the local business chambers.

US technology and knowledge can help Sri Lanka’s companies compete effectively in the today’s challenging international markets.

Speakers at this “Doing Business” seminar will talk about partnering and doing business with US companies and increasing competitiveness in the global economy.

They will also discuss Sri Lanka’s export sector, buying American products as a way to grow Sri Lanka’s economy and the growing importance of SME’s in the global financial system.

The “Doing Business” seminar is expected to attract importers, business people, members of trade associations, manufacturers, and entrepreneurs interested in learning more about how doing business with the United States can help their bottom line.