COLOMBO, Jan. 25 (Xinhua) -- The International Finance Corporation (IFC), a member of the World Bank Group, announced on Sunday a 166 million U.S. dollar investment program to support Sri Lankan businesses and accelerate its transition from economic stabilization to sustainable growth.
IFC said in a statement that the financing package is designed to expand access to credit for small and medium-sized enterprises (SMEs), with a special focus on businesses owned by females and the agri-business sector.
IFC said SMEs account for more than 75 percent of businesses and about 45 percent of jobs in Sri Lanka, but many continue to face difficulties in obtaining financing needed for expansion.
By targeting underserved groups and key productive sectors, the program aims to create jobs and strengthen long-term economic resilience, the IFC said. ■
