Strengthening the Regional Development Bank Project (ADB-52219-001)

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
Proposed
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.
Borrower
Government 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)
Grant, Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 51.00 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)
$ 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.
Grant Amount (USD)
$ 1.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Nov 26, 2018

Disclosed by Bank Sep 7, 2018


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Project Description

According to the ADB website, "The project would provide long-term financing that would directly fund $50 million of subloans to micro and small enterprises outside of Colombo and be structured to provide the regulatory capital that would leverage an additional $533 million of lending."

Investment Description
  • Asian Development Bank (ADB)
Private Actors
  • Regional Development Bank (RDB) -- Financial Intermediary
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 (Financial Mgmt. Resource Ctr) Financial Management Training Project
PO Box 529 No. 355-3/1, Olcott Mawatha, Colombo 10, Sri Lanka

Ministry of Finance and Mass Media
The Secretariat Building Colombo 01 Sri Lanka

Ministry of Public Enterprise and Kandy Development
7th Floor West Tower and 36th Floor East Tower,
World Trade Centre, Echelon Square, Colombo 01

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