Small and Medium-Sized Enterprises Line of Credit Project-Additional Financing (ADB-49273-002)

Countries
  • Sri Lanka
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
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
FI
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
Jan 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.
Borrower
Goverment of Sri Lanka
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)
$ 75.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 75.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS Nov 26, 2018

Disclosed by Bank Sep 25, 2018


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Project Description

According to the bank website, "financial inclusion of small and medium-sized enterprises (SMEs) in Sri Lanka remains a key development priority for the government given SMEs' large demand for credit, the financial barriers facing SMEs, and SMEs'' potential for reducing unemployment and regional inequalities. This additional financing will provide loans to Sri Lankan banks to encourage them to grow their SME portfolios; and will extend the current successful project, which otherwise would close ahead of schedule, through March 2020."

Investment Description
  • Asian Development Bank (ADB)
Contact Information

Responsible ADB Officer Lambert, Donald J.
Responsible ADB Department South Asia Department
Responsible ADB Division Public Management, Financial Sector and Trade Division, SARD
Executing Agencies Ministry of Finance and Mass Media
The Secretariat Building
Colombo 01
Sri Lanka

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main