The Industrial Development Board (IDB) and Sri Lanka Export Credit Insurance Corporation (SLECIC) have signed a Memorandum of Understanding with the objective of facilitating export credit financing to direct and indirect exporters. As per the MOU, IDB is obliged to identify exporters who need export credit facilities for businesses and direct them to SLECIC, which may offer suitable export insurance policies for the exporters and facilitate export financing through banks by way of providing pre – and post – shipment guarantees on behalf of exporters and provide export production credit grantees for indirect exporters to avail of working capital finance. The Industrial Development Board’s chairman, Dr. SarangaAlahapperuma, and the Chairman and Managing Director of SLECIC, Mr. S. C. J. Devendra, discussed the significance of this MoU and how to implement this project for the development of industries in Sri Lanka. At this meeting, there were representatives of SLECIC, Mr. H. M. S. Samarakoon, Director General – IDB, and other officials.

Venue: Board Room - IDB