USA provides USD 150 mn to DFCC Bank
This facility from the U.S. International Development Finance Corporation to DFCC Bank is the largest loan disbursement by the DFC for Sri Lanka to date. This loan also contributes to DFC’s wider goals of empowering communities across the globe, as well as tackling gender inequality, and improving economic equity, both of which were exacerbated by the COVID-19 pandemic.
Through this partnership, DFCC Bank is geared to provide comprehensive and varied on-lending solutions to priority sectors and support its commitment to achieving the United Nations Sustainable Development Goals, particularly enhancing the country’s efforts to achieve Goal 5: Gender Equality. To achieve this, DFCC Bank will ensure that a portion of the on-lending will be primarily focused on women-led SMEs, with the overarching goal of driving women entrepreneurship. This initiative tackles one of the biggest issues faced by women entrepreneurs – limited access to finance, leading to a lack of capital and thereby low business capacities.
This funding provided by the United States will support the Bank’s multi-faceted, multi-thematic long-term vision 2030 under its ‘Resilient Business’ strategic pillar.
DFCC Bank will continue to aid the development of the nation, aligned with their triple-bottom-line value creation framework for the years to come, with similar inclusivity-focused initiatives that stand to benefit all stakeholders. Alpen Capital (ME) Limited acted as the financial advisor to the transaction.