Build Sri Lanka & GBE Brussels channel EUR 500 Mn project funding
Build Sri Lanka Development Society (BSDS) in association with Global Business Enterprise Brussels, Belgium have relaunched their funding projects in Sri Lanka and Maldives to provide 100% project funding without collaterals and guarantors through their international associates to boost the Sri Lankan economy.
The Build Sri Lanka Development Society was first launched in 2018 to bring foreign investments and foreign JV partners to Sri Lanka as one of the premier investment destinations in the world and many projects were identified.
Waste to Energy projects by O2N Lanka Ventures Pvt Ltd in Karadiyana.
“However our efforts to promote and encourage both local and foreign investment within the period failed due to the then COVID-19 pandemic followed by the unstable economic and political climate, large corruption and favouritism that was highlighted during the era and foreign investors had second thoughts in investing in Sri Lanka and many would be projects were abandoned,” recalled Consultant Dr. Prabath Ukkwatte.
“However with the change of government and political stability being reestablished and most importantly rule of law being reestablished creating a level playing field for investment sans any corruption, investors have once again looked at Sri Lanka with optimism.
“Due to these positive sentiments along with Sri Lanka moving out of self-default status and upgrading of international rating by Fitch we were able to secure nearly EURO 500 million Project Funding for 9 projects in Sri Lanka and Maldives,” said President of Build Sri Lanka Development Society Jude L. Ukkwatte.
“We are now looking to facilitate more project funding for both local projects and foreign joint venture projects valued from Euro 5 million to Euro 1 billion. Our goal is to attract and facilitate more and more new entrepreneurs and investors from every continent to Sri Lanka and help create a better Sri Lanka.”
Three key Sri Lanka projects for which funding has been secured are, two Waste to Energy projects by O2N Lanka Ventures Pvt Ltd in Karadiyana to the value of EURO 225 million and Lanka BioGas Oluvil Pvt Ltd for EURO 65 million.
The large Maldivian Projects includes two renovating & upgrading 4 Star Class resort projects, namely the Medhufushi Island Resort for EURO 25 million and the Fillitheyo Island Resort for EURO 25 million, and also a brand new 5 Start Class Resort Development Project Seedheehuraa Island Resort for EURO 75 million.
“Recently we have detailed the future of the Build Sri Lanka Development Society and its activities to the President Anura Kumara Dissanayake who extended his blessings to it.”
Build Sri Lanka Development Society organises International Investment and Development Conferences in Sri Lanka, and takes part in International conferences to promote Foreign Investments to Sri Lanka.
“We organised Asia Hotel & Tourism Investment Conference before the Covid pandemic in Colombo in association with Bench Events, United Kingdom where more than 300 foreign investors and international delegates attended from 48 countries from Europe, Asia & Pacific, and North America for the event, under the Patronage of The President of Sri Lanka.”
“This a higher profile event was successfully organised and it was one of the most fascinating productive conferences held in Sri Lanka.”
BSDS also runs the Sri Lanka Business Channel YouTube ‘The Voice of Sri Lankan Business’ the First and Only English Medium Business Channel that exposes News, Views, and Interviews to promote Sri Lanka to the global business community to visit and invest.
More details could be obtained from, www.buildsrilankasociety.com
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