Ten entrepreneurs awarded matching grants under Market Access Support Programme

Implementing a national budget proposal of 2018, the ‘Market Access Support Programme’ to empower entrepreneurs was launched by Sri Lanka Export Development Board (EDB) under the patronage of Ministry of Development Strategies and International Trade recently.

The Market Access Support Programme envisages to encourage enterprises interested in expanding the markets, modernize / upgrade products / services and production processes and increase market access to connect and compete by introducing improved value added products and services.

The programme is operating under two categories. Category 1 - Assistance will be up to a maximum of Rs.1.0 million for projects / activities to be completed within 6 months on reimbursement basis. Category 2 Assistance will be over Rs. 1.0 Mn and up to a maximum of Rs.5.0 million for projects / activities to be completed within 18 months.

Under Category 2, 40 percent of the assistance will be provided at the time of signing the agreement with the Sri Lanka Export Development Board and the balance will be provided on reimbursement basis depending on the project activities.

Rs. 200 million has been allocated by the General Treasury for the year 2018 to implement the programme and the effective period of the programme will be three years commencing from July 2018.

Ten entrepreneurs were awarded the matching grants by Minister of Development Strategies and International Trade Malik Samarawickrama at an awareness seminar of 2000 New Exporters Development Programme held in Kurunegala recently. The recipients were approved by an evaluation panel appointed for the purpose.

Beneficiary enterprises represented rubber and rubber based value-added products, footwear, coconut and coconut based value-added products, machinery parts and components, food packaging, ornamental fish and jewllery manufacturing sectors.