COLOMBO (News1st): Minister Wimal Weerawansa has said it is important to transform the Central Bank and other financial institutions to suit modern trends.

“The changes infused at the central bank must have an effect on the other institutions as well,” the industries minister said on Sunday.

He made these remarks during the 2020 Small and Medium Enterprise Development Conference.

Weerawansa stressed that individuals who can implement these changes must be appointed to the relevant positions.

He pointed out that the country needs to capitalize on this opportunity and explore new markets.

“We will go down in history as the community that remained idle during this period if we don’t take action,” Weerawansa pointed out.

Prime Minister Mahinda Rajapaksa pointed out that the central bank has disbursed Rs 33 million to assist businesses affected due to COVID-19.

“…we will obtain the assistance of foreign lending agencies to assist newly-established small and medium scale enterprises,” Rajapaksa said.

He added that small and medium scale enterprises contribute to nearly 52 percent of the country’s economy.

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