Deputy Minister of Industries Chathuranga Abeysinghe says the government has established a new Credit Guarantee Institution to assist small and medium-scale enterprises (SMEs) struggling with loan repayments since Sri Lanka’s economic crisis. Many SMEs had faced severe debt issues over the past few years, with several unable to service or restructure their loans, leading to the risk of asset seizures by banks, he said. However, with the intervention of the banking sector and the Ministry of Industries, a large number of businesses were successfully restructured this year, Abeysinghe noted. To prevent similar crises in the future, the government has introduced…
Credit Guarantee Institution established to support SME loan recovery
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