EDB disburses over Rs. 200 million in assistance to potential and existing exporters
The Export Development Board (EDB) has recognized potential and existing exporters under its financial assistance programs on National Export Brand Development, New Exporter Development and Access Support to the markets.
Over Rs. 200 million has been disbursed under these initiatives.
Checks and certificates to exporters who have been selected as beneficiaries under several EDB-led assistance programs were presented by Trade Minister Bandula Gunawardena on January 28.
Speaking at the event, the Minister commended EDB officials for their commitment and dedication in enabling exports to record an impressive recovery in 2021 and stressed that the whole country should become a export zone. export for the country to achieve economic prosperity.
National Export Brand Development Program 2021-24: Under EDB’s National Export Brand Development Program 2021-2024, a new initiative to promote 100% Sri Lankan brands – entrepreneurs are encouraged to develop and promote creative, innovative and high value-added products under a local brand in the international market.
The aid is extended in the form of a matching grant of 50% of the funds allocated under the 2021 national budget. A total sum of around Rs. 14 million, which was 20% cash advance on Grants approved subject to maximum aid, were distributed among 13 companies by the Minister at the event.
New Exporter Development Scheme: Under EDB’s New Exporter Development Scheme, Rs. selected as winners in a market presentation programme, held last December as the final stage of a program to support SMEs on access to the export market.
The winners were selected by an external judging committee after evaluating the export marketing plans that were submitted by the participating SMEs.
Market Access Support Programme: The Market Access Support Programme, financial assistance was provided on a cost-sharing basis for the purchase of machinery, installation of facilities quarantine, quality improvement, capacity development and market development activities, etc. companies wishing to expand their markets. , expanding market access, enhancing value addition, improving productivity, encouraging local brands, complying with international quality, environmental and other standards, upgrading technology and improving competitiveness.
A total of 111 companies have benefited, amounting to Rs. 192.7 million under this program from 2018 to 2021. Out of this amount, checks worth Rs. 5.9 million were handed over to five companies selected during this event.
EDB Chairman Suresh de Mel, Managing Director Chitranjali Dissanayake and officials from the Ministry of Commerce and EDB also participated in the event.