Nations Trust Bank launches Rs. 7 bn fund to support economic revival | Daily News


 

Nations Trust Bank launches Rs. 7 bn fund to support economic revival

Nations Trust Bank has identified the importance of assisting adversely affected businesses with a view to supporting the revival of the national economy and towards this objective has announced the launch of a Rs.7 billion internally generated fund dedicated to extending financial support to key industries thereby, enabling them to recommence their businesses and in turn boost the national economy.

With the “Nations Diriya” support fund, the Bank will reach out to exporters under “Nations ApanayanaDiriya” and to local manufacturers under “NationsVyaparaDiriya”.

The facilities are designed to support Corporates and Small & Medium Enterprises by offering attractive credit facilities at competitive rates.

Through this initiative, Nations Trust Bank will help rebuild a range of industries engaged in direct or indirect export-oriented business and for businesses engaged in local manufacturing to help uplift the economy at large by providing the much needed financial support.

The “NationsDiriya” platform is formulated to offer financial support to businesses in local manufacturing, fisheries, value added agriculture, tea, processed food, beverages, spices, coconut and coconut-basedproducts, as well as manufacturers of chemical products, minerals and essential oils.

The facilities will also be available to IT and BPO (Business Process Outsourcing) companies that provide much needed foreign exchange flow into Sri Lanka.

“As a leading Bank in Sri Lanka, we have an important role to play in supporting economic revival and uplifting businesses. We believe that it is our responsibility to support the nation to overcome the economic impediments that the pandemic brought upon us. Given that it was completely unexpected, no individual or business had time to adjust to the challenges that came their way,” stated Priyantha Talwatte, Director/Chief Executive Officer of Nations Trust Bank.

Commenting further Talwatte said, “Our facilities are extended across multiple industries and business sectors to help the economy at large. We are focused on providing diverse businesses much needed relief and thus supporting them at this critical hour.”

Over the past months, the Bank had focused on critical areas such as guiding and creating awareness on the safety measures that need to be followed during the COVID -19pandemic as well as motivating and advising customers on the importance of staying focused while setting realistic goals for the future.


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