Official MoU signing between NDB Bank and Representatives from NEDA

In an effort towards fostering digital innovation and supporting small businesses, National Development Bank PLC (NDB) has partnered with the National Enterprise Development Authority (NEDA) to facilitate the “SME Connect” online platform. This strategic collaboration, formalised through a Memorandum of Understanding (MOU), aims to empower Micro, Small, and Medium-Sized Enterprises (MSMEs) across Sri Lanka, with a special focus on women-led enterprises.

The “SME Connect” platform, developed by the Asian Development Bank (ADB) and in consultation with Deloitte, is designed to offer learning, mentoring, and networking opportunities for MSMEs. By providing access to a wealth of resources, including reports, articles, tools, templates, success stories, and training programs, the platform seeks to enhance the financial and business knowledge of entrepreneurs, with a particular emphasis on empowering women entrepreneurs in Sri Lanka.

Moreover, this platform is trilingual and mobile-friendly, ensuring accessibility for a diverse range of users across Sri Lanka. The partnership is a testament to NDB Bank’s commitment to its digital-first strategy, leveraging digital solutions to drive economic growth and create value for businesses. Through “SME Connect,” MSMEs will gain access to critical resources and networking opportunities that can help them thrive in today’s competitive market.

Commenting on the partnership, Kelum Edirisinghe, CEO of NDB Bank, said, “At NDB, we believe that empowering MSMEs, particularly women-led enterprises, is essential for the sustained growth of our economy. Our partnership with NEDA through the ‘SME Connect’ platform represents a critical step in providing entrepreneurs with the tools, knowledge, and connections they need to succeed in the digital age. By combining our financial expertise with NEDA’s support for enterprise development, we are creating a future where Sri Lankan entrepreneurs can thrive.”

The “SME Connect” platform, initiated under ADB’s ‘Small and Medium-Sized Enterprise Line of Credit’ project, provides a national-level digital solution to help MSMEs enhance their business capabilities and innovation. Under the guidance of the Ministry of Industries and the directives of the Secretary to the Treasury, NEDA has been tasked with overseeing the platform’s development to ensure it aligns with the needs of Sri Lanka’s entrepreneurial landscape.

This partnership is a testament to NDB Bank’s commitment to its digital-first strategy, leveraging digital solutions to drive economic growth and create value for businesses.

Furthermore, “SME Connect” users will have direct access to NDB’s suite of banking products and services through links that redirect to the bank’s website, making it easier for entrepreneurs to explore financial solutions tailored to their needs.

By facilitating access to business education and connecting entrepreneurs with mentors and peers, this initiative will strengthen the foundation for MSME success. The partnership not only highlights NDB’s ongoing efforts to foster innovation and financial inclusion but also reaffirms the bank’s dedication to empowering the next generation of Sri Lankan entrepreneurs.