Sri Lanka to support “Commonwealth Small States Trade Finance Facility”

Sri Lanka to support “Commonwealth Small States Trade Finance Facility”

Sri Lanka to support “Commonwealth Small States Trade Finance Facility”

Written by Nathasha De Alwis

18 Apr, 2018 | 4:09 pm

COLOMBO (News 1st) – An innovative way for small states to obtain easier access to international trade finance has been launched at the Commonwealth Heads of Government Meeting (CHOGM) in London. India, Sri Lanka, Mauritius and Malta together have promised to provide a total of $5 million of capital to the scheme, which has been dubbed the  “Commonwealth Small States Trade Finance Facility”.

Speaking at the roundtable event, Sri Lankan Finance Minister Mangala Samaraweera said Sri Lanka is committed to preventing financial crime. He had also noted that Sri Lanka has long identified the risk of financial crime as a priority area given Sri Lanka’s history in battling a sophisticated terror organization.

Speaking further Minister Samaraweera has said the challenge for countries like Sri Lanka is how to ensure the continued progress of financial inclusion

Former Microsoft CEO Bill Gates, now focusing on his Bill and Melinda Gates Foundation, spoke of the importance of collaboration and sharing during his keynote address at a joint plenary session of Commonwealth Summit. While Gates praised Commonwealth collaboration, he urged private enterprise to invest more in developing areas of the world. Bill Gates also spoke about the health sector in Sri Lanka.

 

WATCH HERE: 


Are you interested in advertising on our website or video channel
Please contact us at [email protected]