Hirunews Logo
ADB+holds+unique+auction+to+boost+SMEs
Tuesday, 29 March 2016 - 10:20
ADB holds unique auction to boost SMEs
8

Shares
1,001

Views

The Asian Development Bank yesterday commenced its first auction of a 12.5 million dollar tranche to channel 100 million dollars of total funds to boost Lankan SMEs.

According to the ADB Senior Finance Specialist, this is the 1st time the ADB is allocating funds through dedicated financial institutions via an auction that submits the highest bids.

He said the auctions would set a market determined rate for their funds, which would also allow banks which are faster at disbursing credit to get more funds.

Make a Comment
Make a Comment

DOWNLOAD HIRUNEWS APP ON ANDROID & APPLE