People’s Bank provides financial assistance to support distressed customers and businesses

PEOPLE'S Bank, one of Sri Lanka’s leading state-owned commercial banks, has taken steps to provide concessions and financial support to strengthen and uplift small and medium-sized businesses (SMBs) affected by the recent Cyclone Ditwah.

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People's Bank Deputy General Manager - SME, Development and Microfinance Wickrama Narayana

Amid almost every disaster that has impacted Sri Lanka, People’s Bank has always taken steps to uplift the people of this country, not just based on profit, but through fully understanding its responsibility as a responsible state-owned bank.Accordingly, People’s Bank, with the advice and support of the CBSL and Ministry of Finance, has launched a special program to uplift customers and businesses affected by this disaster. Following are excerpts of a discussion with People’s Bank SME, Development and Microfinance Deputy General Manager Wickrama Narayana, who elaborates on the bank’s efforts.

A: If we look at this disaster that our country has faced, it is different from the decades of war and the COVID crisis. Now this has happened. After this disaster, we can now start from here. Here, businesses could have been damaged in several ways, one of which is the damage to property.

For example, if they are completely washed away, if the building is damaged, they have to rebuild it. In addition to this, the majority have a working capital requirements. They need to cover future expenses, buy raw materials, pay water bills, and electricity bills.