$100M IFC Financing for Sri Lanka's Energy Efficiency & Renewable Projects

THE International Finance Corporation (IFC), is partnering with Sri Lanka’s Commercial Bank of Ceylon on a $100 million financing structure to help the bank increase lending for energy efficiency and renewable energy projects in the country.

This seven 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. 



Commercial Bank CEO, Jegan Durairatnam said, “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.”



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.” 

Source: IFC.

Monday 14th August 2017


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