NDB Continues To Empower Local Exporters
Placed amidst of wave of opportunity, Sri Lanka is poised today for sustainable economic development. In this context of emerging national prosperity, exports play a pivotal role in driving the much anticipated economic progress.
NDB carries over 30 years’ heritage of commitment towards exports development in Sri Lanka. Having understood the significance of the exports industry and having foreseen its limitless prospects, the Bank has extended its unwavering support to the export sector from its inception. Amidst the Bank’s numerous contributions to this sector, is the sponsorship of the Annual Exports Awards hosted by the National Chamber of Exporters (NCE) which had been one of the long term commitments towards the industry by NDB.
Accordingly, this year too NDB will be the sponsor of the “Most Outstanding Exporter- Sector Wise Awards” category of the 21st Annual NCE Exports Awards 2012 scheduled to be held on September 20. This category of awards recognises the outstanding achievements of the local exporters across several key sectors including Agriculture, Tea, Manufacturing, Garments, Services, Gems and Jewellery and so on. The Annual Exports Awards of the NCE is the premier award ceremony specially designed to recognise and reward the outstanding exporters in the country. The annual ceremony is a prestigious event attended by exporters, a wide cross section of the private and Public sectors as well as the diplomatic community and leading NGOs.
Commenting on the sponsorship, Buwaneka Perera, Vice President and Head of Corporate Banking of NDB said, “Exporters are the main foreign exchange earners for the country and they present many prospects for growth and diversification. Therefore, giving exporters the due recognition and priority while maximising opportunities for them in the international market place is a task of national importance.”
NDB’s Corporate Banking division extends expert financial advice coupled with diverse trade finance tools that include pre-export loan facilities and export bill discounting facilities to help meet the funding needs at the post shipment stage. Advising of Letters of Credit (LCs), processing collection bills and issuing shipping guarantees are amongst the many specialised services extended by NDB to the local exporters. The Bank also grants foreign currency loans to exporters at competitive rates and funds the working capital cycles of the exporters through customised short and medium term loans.