Get Adobe Flash player

Norway

The Project Funding Agency - The Royal Norwegian Government

The Royal Norwegian Government is committed to the people of Sri Lanka and is determined to promoting sustainable development in the country. The Norwegian Government’s assistance in economic development is aimed at supporting growth and private sector development, and to increase employment and stability. As a donor for IFC’s advisory program in Sri Lanka, the Royal Norwegian government has been an integral part of IFC’s activities in the country since 2007. It is the sole funder of IFC’s program to develop the 5 Southern districts of the country through Capacity Building Programs for the Small and Medium Enterprises (SME) and to increase the sustainability of the 5 commercial chambers in the Southern Region.

The Project Implementing Agency - International Finance Corporation (IFC)

IFC, a member of the World Bank Group, is the largest global development institution focused on private sector development in developing countries. IFC creates opportunity for people to escape poverty and improve their lives by providing financing to help businesses create jobs and supply essential services and by delivering advisory services to ensure sustainable development. IFC’s current investment portfolio in Sri Lanka is spread across a range of sectors including infrastructure, tourism, renewable energy, and banking.

Meanwhile, the IFC advisory program in Sri Lanka is a multi-donor funded facility, with a focus on economic inclusion across the country, increasing access to finance for undeserved communities, developing business skills of MSMEs in lagging and post conflict regions, and encouraging renewable energy projects. Through this program, IFC also works towards removing regulatory constraints, increasing the availability of business development services and creating sector-specific opportunities for SME growth, including linkages to larger enterprises.

Southern SME Development Programe

The Southern SME Development project, funded by the Royal Norwegian Government, implements an advisory program for Micro, Small and Medium Enterprises (MSMEs) development in the Southern Region of Sri Lanka. The districts covered under the project are Galle, Matara, Hambantota, Moneragala and Ratnapura. IFC’s program was launched in November 2007 with the aim of increasing Access to Finance for Micro, Small and Medium Enterprises, fostering SME development & creating sector specific opportunities for MSME growth.

The program is carried out through capacity building programs for both the MSMEs and encouraging self sustainability of the district commercial chambers. Additionally, the program aims to increase access to formal finance for MSMEs through collaboration with IFC’s partner financial institutions. Priority is given to women, tourism, and export-sector MSMEs along with increasing energy-efficiency activities across various sectors.

Ratnapura District Programe

Ratnapura is in the 4th place of the poorest district in Sri Lanka, irrespective of valuable asset of gems found abundantly in the area, because a biggest share of the finance is in the hands of very few crowd, and out of which, yet another very few were investing money on other local projects, generating employments, and flowing currency in to the other’s hands. Therefore the value of the programme is indescribable, extending a great support to the area, because it has already subscribed in a massive development. The biggest outcome of the same is just about to come.

Just after the start of the programme during the year 2009-2010 period, 19 SME capacity development programmes have been launched, with the participation of 700 entrepreneurs, (This was a very big representation, compared to the population who could afford to invest on small or medium scale business at that period). Recorded new employment generation at the initial stage was 562 heads, and out of which 394 were males and the balance 168 were females. Increase of the turnover at the initial stage was 96 Million LKR, a significantly big sum compared to the money circulation in the area. Achievements of this year would be much more than this and the results would be published at the end of the year.

It was aimed directly at the development of SME’s in the district, and the total success would be greater than that of the story tells you by figures, when consider about indirect benefiters, resulted by employment generation, infrastructure development, investor attraction through publicity programmes, training and education programmes and so on…

Massive project which is aimed at a sudden boom of the financial status of the district making it one of the richest in the Island is the Special Project on Tourism. The most important phenomena of the project is that, it would radiate the rays of benefits to bigger crowd representing more than half of the population on one hand, and it opens lot of doors to budding entrepreneurs and younger generation, not only by wealth but also by all other means, on the other hand.

With a great vision, the SCCI has already initiated a project on development of women entrepreneur, and was able to form up a Women’s Wing with 110 participants. Already they have joined the race by organizing some promotional workshops, expanding the capacity and outcome of the wing.