NDB-EDB MOU to support exporters and innovators
NDB, being one of the largest players in the SME and microfinance segment, recently signed a memorandum of understanding (MOU) with the Sri Lanka Export Development Board (EDB) as a means to support exporters and innovators under the ‘NDB Jayagamu Sri Lanka’ initiative.
Through this, NDB will be linking the bank’s customers with the EDB and directing them to the ‘2000 New Exporter Development Programme’, which will then assist the customers to develop their capacity, product and market of each business.
The EDB will also support the improvement of the macro/micro economic environment, formulating and implementing the national export development plan, sectoral plans, etc. by conducting various development programmes, by providing market information and e-commerce services, assisting in trade facilitation/ resolving problems/constraints faced by exports to achieve trade efficiency, improving quality of export support services, working with international/ local trade support services, and implementing skills/entrepreneurship/ training development programmes.
In addition to the many services that can be enjoyed by the bank’s SME clients, the Export Agriculture Division will also assist the SME customers of the bank by developing and promoting agriculture, fisheries and aquaculture products through systematic and integrated programmes such as value chain enhancement, technology upgradation, quality improvement, branding and brand promotion, provision of intelligence and market promotion programmes.
The Export Services Division will assist the SME customers of the bank by creating opportunities for local professional services exporters, including information and communication technology, business process management, knowledge processing management, electronics, construction, printing, engineering, health, consultancy and education to extend their business internationally, thereby increasing export sales and employment prospects in the country through integrated programmes such as supply development, quality improvement and training, by way of educational seminars and training programmes for exporters and potential exporters of such services to export market requirements. It will also assist in market development and market penetration through individual and collective marketing assistance.
Additionally, export marketing of the EDB will support in the development and improvement of the export performances of Sri Lankan products and services by conducting market research and surveys, organising seminars and workshops for the exporter community, formulation and implementation of export market development and promotional programmes, coordinating activities with trade centres/trade promotion organisations/commercial officers overseas to assist exporter community, coordinating activities related to bilateral and multi-lateral trade agreements, joint economic committees, business councils, provision of advisory services, market information to exporters and handling export-related local and overseas trade inquires.
Trade facilitation and trade information will assist the exporters to achieve trade efficiency by trade facilitation, resolving export-related issues faced by exporters, providing advisory services, operating the scheme of registration of exporters, organising and conducting training programmes on international trade, provision of trade information service for improving export performance by maintaining trade-related data bases, maintaining an up-to-date business library facility, packaging and development and training, publications, coordinating seminars and participating at exhibitions.
NDB introduced the NDB Jayagamu Sri Lanka initiative in order to create a pathway for Sri Lanka’s exporters, innovators and entrepreneurs to tap into, so that they will have the necessary means to target the companies that are looking to diversify their supply chain, thus bringing in the much-needed revenue in to Sri Lanka.