Original disclosure @ ADB website
Updated in EWS May 15, 2022
Disclosed by Bank Jan 10, 2022
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According to ADB documents, the proposed technical assistance (TA) of $800,000 for Enhancing Small and Medium-Sized Enterprises Financial Services Outreach will support the implementation of the proposed Small and Medium-Sized Enterprises Credit Guarantee Institution Project in Sri Lanka (the ensuing project), which is a standby project for 2021 in the country operations business plan for Sri Lanka, 2021-2023.
ADB will support the government’s vision to create a sustainable mechanism for credit guarantee operations, rather than launching a short-term measure for easing credit to SMEs. For this reason, the ensuing project, Small and Medium-Sized Enterprises Credit Guarantee Institution Project, is being designed towards a sustainable operation of SMECGI. It should be well-funded, profitable, efficiently managed, removed from political influence, and operated with the highest level of corporate governance and risk management practices with support from the central bank.
The TA is estimated to cost $800,000, of which (i) $500,000 will be financed on a grant basis
from ADB’s Technical Assistance Special Fund (TASF-other sources), and (ii) $300,000 will be
financed on a grant basis from the Financial Sector Development Partnership Special Fund.
|Responsible ADB Officer||Hoshino, Takuya|
|Responsible ADB Department||South Asia Department|
|Responsible ADB Division||Public Management, Financial Sector and Trade Division, SARD|
|Executing Agencies||Department of Development Finance
1st Floor, The Secretariat, Colombo 01,
Sri LankaMinistry of Finance
The Secretariat Building
ACCESS TO INFORMATION
You can submit an information request for project information at: https://www.adb.org/forms/request-information-form
ADB has a two-stage appeals process for requesters who believe that ADB has denied their request for information in violation of its Access to Information Policy. You can learn more about filing an appeal at: https://www.adb.org/site/disclosure/appeals
ACCOUNTABILITY MECHANISM OF ADB
The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main.