NDB Agri Loan (IFC-41285)

  • Sri Lanka
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
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.
Voting Date
Jun 15, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
National Development Bank PLC (NDB)
The holder of the loan, grant, or other investment.
  • Agriculture and Forestry
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Other Related Projects
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 8, 2018

Disclosed by Bank May 16, 2018

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Project Description

The proposed project is a 5-year, local currency, senior loan of up to US$50 million equivalent, to National Development Bank PLC (NDB), a mid-sized licensed commercial bank (LCB) in Sri Lanka. The Project will support the expansion of NDB’s MSME portfolio related to the agriculture sector, with an emphasis on financing climate-smart agriculture solutions and women-owned enterprises.

The proposed project is part of IFC’s ‘Sri Lanka Agriculture Finance Program’, which aims to provide a holistic solution to bridge an estimated agriculture financing gap of US$ 2 billion. The Program would consist of the following components:1. Capacity development of Participating Financial Institutions (PFIs): on agri value chain financing and development of related products2. Awareness creation: modern, efficient practices to enhance quality and productivity among agri-value chain players3. Risk mitigation: introduction of agri insurance products and climate smart agricultural practices4. Improve enabling environment: working on policy measures to improve the enabling environment in line with Government’s Vision 20255. Funding: provide funding to chosen PFIs to lend to agri value chain playersTo achieve this IFC will work closely with the World Bank, government stake holders and private sector partners.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

NDB is listed on the Colombo Stock Exchange and has a diversified shareholding. As at March 31, 2018, the top 5 shareholders were: Bank of Ceylon (9.91%), Employees’ Provident Fund (9.69%), Mr. R.S. Captain (8.15%), Sri Lanka Insurance Corporation Ltd – General Fund (5.68%) and Dr. S. Yaddehige (5.18%).

Contact Information

National Development Bank PLC
Lalith Fernando
Group CFO



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