In FY05, the International Finance Corporation (IFC) approved the establishment of the Sri Lanka-Maldives Enterprise Development Program (the “SEDF-Sri Lanka/Maldives” or “Program”), a US$10[1] million, five-year, multi-donor, technical assistance program for SME development in Sri Lanka and the Maldives. The Program will operate under the overall umbrella of the existing Bangladesh based SouthAsia Enterprise Development Facility (SEDF) established in 2002.
The Program will be a two prong program focused on increasing Access to Finance (ATF) for SMEs and providing Value Addition to Firms (VAF) while creating sector-specific opportunities for SME growth, including linkages to larger enterprises. The Program will also aim to improve the business environment for SMEs as a cross-cutting component of the ATF and VAF programs. These will contribute to broader-based economic growth, and hence to sustainable poverty reduction in Sri Lanka and the Maldives
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