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Wednesday, 18 April 2018 - 17:40
Sri Lanka contributes to Commonwealth Small States Trade Finance Facility
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In order to help the Small States get access to global markets, Sri Lanka pledged a financial contribution to set up the Small States Trade Financial Facility.
 
Finance Minister Mangala Samaraweera signed this agreement on behalf of Sri Lanka in London.
 
Initiated at the CHOGM 2013 Summit in Colombo, the Commonwealth recognised the importance of trade finance for the development of Small States and introduced this innovative blended finance support totalling $ 5 million. 
 
It is expected that commonwealth Small States will have access to $ 300 million of incremental trade finance over a three year period from this programme.
   
The other countries supporting this endeavour were India, Mauritius and Malta also by pledging financial commitment towards this initiative.
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