Lankapage Logo CP 18 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* IFC invests $100 million in Commercial Bank to boost green financing in Sri Lanka
Thu, Aug 10, 2017, 12:36 pm SL Time, ColomboPage News Desk, Sri Lanka.

Aug 10, Colombo: International Finance Corporation (IFC), a member of the World Bank Group, is partnering with Sri Lanka's Commercial Bank of Ceylon on a $100 million financing structure to help the bank increase lending for renewable energy and energy efficiency projects in the country. This is IFC's largest financing for its own-account in the country.

This 7-year financing to Commercial Bank will help reduce greenhouse gasses, promote energy efficiency and support the expansion of conventional and non-conventional renewable energy projects.

"IFC's multi-faceted partnership has been instrumental as we develop a green-finance business to make financing more available to our clients that want to mitigate climate-change risks and contribute to a cleaner, more sustainable environment," Commercial Bank CEO, Jegan Durairatnam said.

IFC has been a long-term advisory and investment partner with Commercial Bank. Earlier this year, the partnership was further extended with an advisory project to help the bank develop its green-finance business.

"IFC continues to innovate through our partnership with Commercial Bank by working together on our shared goals of clean, sustainable and inclusive growth," said Ariane Di Iorio, IFC's Regional Industry Manager for the Financial Institutions Group in South Asia.

"As Sri Lanka's financial sector comes together to develop a sustainable finance roadmap for the sector, IFC is keen to engage with banks that support businesses that are greener, climate friendly, and socially inclusive."

Sri Lanka is a priority country for IFC. IFC's committed portfolio in Sri Lanka covers projects across a range of sectors, including infrastructure, tourism, renewable energy, finance, and healthcare. IFC also provides advisory services to promote sustainable growth among small and medium enterprises by facilitating access to finance and by offering capacity-building and training opportunities.

 


ColomboPage - Recent 10 Stories ::
PM calls for the upgrade of quality of higher education in universities
-- [3 hours ago]
Sri Lanka's third quarter GDP expands at 3.3 percent in 2017
-- [4 hours ago]
Three Sri Lankan fishing trawlers released from Indian custody
-- [4 hours ago]
Malaysian PM to begin visit to Sri Lanka tomorrow
-- [4 hours ago]
European Union welcomes Sri Lanka acceding to Anti-Personnel Mine Ban Treaty
ADB grants Sri Lanka US$ 270 Mn to implement two development projects
Prime Minister visits Thomas De La Rue Lanka currency printing facility at the Biyagama EPZ
UN rights experts urge Sri Lanka to urgently implement reforms to end arbitrary detention
Court extends interim injunction on taking legal action against Gotabhaya Rajapaksa till Jan 25
Sri Lanka Central Bank not to accept willfully mutilated, altered or defaced currency notes from 31 Dec

Copyright © 2000, 2016 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.