The objective of the project is to expand the borrower’s on-lending portfolio to micro, small and medium enterprises (“MSMEs”), with a focus on women-owned MSMEs, in Sri Lanka. The COVID-19 pandemic’s impact has been especially hard for Sri Lanka's MSMEs, which account for 52% of the country’s GDP and employ over 75% of the labor force. Already, MSMEs are often constrained by lack of financing and the current MSME financing gap stands at $17.1 billion. In addition to support for MSMEs, 40% of Project proceeds will be lent to women-owned or led MSMEs, while 95% will support rural borrowers. With only 35% of women economically active, support for women is important for the country’s development. Currently, only 12% of the country’s MSMEs are woman-owned or led.
ACCESS TO INFORMATION
Unlike many other development finance institutions, DFC does not currently have an access to information policy.
Under the United States Freedom of Information Act (FOIA), DFC is obliged to respond to reasonably formulated requests for Agency records. However, DFC may apply exemptions from release to certain types of information and may charge fees in responding to requests. DFC has a designated FOIA officer who is trained in how to respond to requests and implement the law. You can learn more about filing a FOIA request at: https://www.dfc.gov/foia
ACCOUNTABILITY MECHANISM OF THE UNITED STATES INTERNATIONAL DEVELOPMENT FINANCE CORPORATION (DFC)
The Office of Accountability is an independent office that addresses complaints about environmental or social issues related to DFC-supported projects. The office provides communities an opportunity to have concerns independently reviewed and addressed. If you submit a complaint to the Office of Accountability, it may assist you by either seeking to address your problems by facilitating a problem solving dialogue between you and those implementing the project and/or investigating whether the DFC complied with its policies to prevent environmental, social, human rights, and labor harms.
You can find more information about the Office of Accountability at: https://www.dfc.gov/who-we-are/office-accountability