New Credit Evaluation Framework To Enable Banks To Boost Lending To Tech Firms
Daily Mirror - Sri Lanka|June 10, 2021
The Information and Communication Technology Agency (ICTA) expects the banking sector to boost lending to worthy tech companies by adopting the recently introduced Credit Evaluation Framework in their credit evaluation and approval process, when lending to tech companies and moving away from the outdated collateral-based lending practices.
New Credit Evaluation Framework To Enable Banks To Boost Lending To Tech Firms

From left: Pay media (Pvt.) Ltd Founder/CEO Kanishka Weeramunda, PwC Sri Lanka Director Deals Kavinda Weerakoon, NDB Bank Vice President SME, Middle Market and Business Banking Indika Ranaweera, ICTA Chairman Prof. Lalith Gamage, ICTA Chief Executive Officer Mahinda B. Herath, DFCC Bank Chief Risk Officer Ashok Goonesekere, ICTA Chief Digital Economy Officer Anura De Alwis and ICTA Director Start-up Ecosystem Development Sachindra Samararathne

The new Credit Evaluation Framework was developed by the ICTA in collaboration with PwC Sri Lanka.

As often start-ups are faced with constraints in accessing bank financing due to lack of collateral, it continues to undermine the innovation drive of the country.

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