Lankapage Logo CP 21 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* HNB secures US$ 60mn funding from France’s Proparco for SMEs
Wed, Oct 28, 2020, 12:34 pm SL Time, ColomboPage News Desk, Sri Lanka.

Oct 28, Colombo: Hatton National Bank PLC (HNB) announced a landmark agreement with Proparco, the private sector funding arm of the French development bank, Agence Française de Développement (AFD), to secure US$ 60 million in funding.

“We are delighted to enter in to this long-term loan agreement with Proparco at such a critical juncture in the history of the global economy. This is the second time HNB is partnering with Proparco since 2015. The agreement is a clear testimony for the confidence placed in HNB by International Financial Institutions especially within the context of the overhanging uncertainty on account of the COVID-19 pandemic. Through this long term funding, HNB will be in a position to support the much aggrieved SME segment of our nation,” HNB Managing Director/ CEO Jonathan Alles stated.

Proparco has been supporting sustainable development for 40 years across Africa, Asia, Latin America and the Middle-East.

In 2019, Proparco committed €2.5 billion of financing, focused on key development sectors: infrastructure, renewable energy, agribusiness, financial institutions, healthcare and education.

Its interventions support private sector actors who contribute to the Sustainable Development Goals (SDGs) by creating jobs and decent incomes, providing essential goods and services, and who contribute to poverty reduction and the fight against climate change.

Asia is Proparco’s third region of intervention, with €388 million granted in 2019, representing 15 percent of its commitments.

“Proparco is pleased to once again partner with HNB. Proparco’s US$ 60 million credit line will help HNB to further support SMEs especially in rural areas. This new operation reflects the ongoing commitment of Proparco to facilitate access to credit for job-creating SMEs,” said Guillaume Barberousse, Head of Financial Institutions & Inclusion of Proparco.

A pioneer in financial Inclusion that is geared to support Sri Lanka’s engines of economic growth, HNB has won local and global recognition for its efforts to leverage its extensive financial resources and unmatched technological capabilities to deliver sustainable financial solutions to critical segments of the Sri Lankan economy –spanning SME, Micro Finance clients at the grassroots of Sri Lanka’s economy through to emerging corporates and the upper echelons of the island’s corporate sector.

 

ColomboPage - Recent 10 Stories ::
Indonesian Naval Ship KRI Raden Eddy Martadinata (331) arrives in Sri Lanka’s Port of Colombo
-- [1 hour and 7 minutes ago]
Adjournment Debate on the Government Policy Statement to be held on the 9th and 10th
-- [1 hour and 29 minutes ago]
Court bans protests that interfere with National Independence Day event at Galle Face
-- [1 hour and 40 minutes ago]
Two members of Public Utility Commission resign
-- [2 hours ago]
Supreme Court rejects HRC’s request to order uninterrupted power supply during GCE A/L exam
-- [2 hours ago]
U.S. reaffirms continued support to Sri Lanka, looks forward to working together for mutual goals
-- [3 hours ago]
PSC focuses on the need to digitalize public and private institutions in promoting investments
-- [3 hours ago]
Sri Lankan President urges all countries in trouble to join hands in finding solutions
-- [4 hours ago]
Prestigious Sri Lankabhimanya Award bestowed on Former Speaker Karu Jayasuriya
-- [4 hours ago]
US President extends warm wishes to Sri Lanka on its 75th Anniversary of Independence
-- [4 hours ago]

Copyright © 2000, 2020 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.