Union Bank Partners with SLECIC to Boost Migrant Worker Financing Solutions

Union Bank has strengthened its collaboration with the Sri Lanka Export Credit Insurance Corporation (SLECIC) to significantly enhance financial solutions for Sri Lankan migrant workers.

The partnership was formalized recently with the official sharing of an APARA Guarantee. The event was held with the participation of Prof. Aruna Shanthaarachchi, Chairman & Managing Director of SLECIC and Asanka Ranhotty, Chief Business Officer of Union Bank alongside officials from both organizations.

This initiative enables the Bank to offer pre-departure loans to migrant workers backed by robust credit insurance guarantees, ensuring greater financial access and security. The credit guarantee mechanism supports banks in extending financing with reduced risk, empowering migrant workers to pursue overseas employment opportunities with confidence.

Source: Adaderana