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Asian Development Bank approves additional $75 million for SMEs in Sri Lanka

The Asian Development Bank approved an additional $75 million on Tuesday to fund the development of small and medium sized enterprises in Sri Lanka. 

"SMEs have the potential to reduce regional inequalities in Sri Lanka given that SMEs are more widespread throughout the country than larger enterprises, which are mainly based in the capital Colombo," the ADB's principal finance specialist, Don Lambert said. 

"The additional support will ensure that more SMEs have wider access to credit," he added. 

SMEs, which are considered essential to the development of Sri Lanka's economy continue to find access to finance difficult.