WBC-LOLC Micro Credit Limited (DFC-2017-WBCLOLCMICRO)

Countries
  • Sri Lanka
Where the impacts of the investment may be experienced.
Financial Institutions
  • US International Development Finance Corporation (DFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
LOLC Micro Credit Limited
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 14.63 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 15.45 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ DFC website

Updated in EWS Jun 19, 2020


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Project Description

According to the bank's documents, "This Project is expected to have a highly developmental impact in Sri Lanka with increased lending to individuals that are underserved with a particular focus on poor, rural women. LOLC is one of the largest microcredit providers in Sri Lanka, with over 250,000 borrowers, 70% of which are women. The Project will reach into rural areas and villages with a high concentration of unbanked households through its strategic partnership with Sri Lanka Post, the national post office system."

Investment Description
  • US International Development Finance Corporation (DFC)
Private Actors

The project's sponsors are Financial Services Volunteer Corps, and Lanka Orix Leasing Company Limited

Contact Information

No contact information provided at time of disclosure.