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Developing Asia seen as needing US$ 1.7 trillion annually to meet growth targets between 2016 and 2030

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DFCC chairman J. Durairatnam and other dignitaries at the bell-ringing.

By Hiran H.Senewiratne

Country Director, Asian Development Bank (ADB) Takafumi Kadono said that the ADB estimates that developing Asia will require approximately US $ 1.7 trillion annually between 2016 and 2030, to achieve its economic growth targets while tackling climate change challenges.

‘We can use this to help Sri Lanka extricate itself from its economic crisis, set it on a strong, robust development and growth trajectory and build the resilience the country and economy truly need, Kadono said at the DFCC Bank’s issuance of Green Bonds at the CSE office yesterday at the World Trade Center. A bell- ringing ceremony was held to mark the event since this was the first issuance of a Green Bond in Sri Lanka.

Kadono added: ‘To tackle environmental issues in Sri Lanka it is estimated to require US 339 million by 2025, which is a 1.5 percent loss in terms of GDP. Therefore, Sri Lanka must intensify efforts to sustain its growth while addressing climate change challenges. There is a need for the island nation to turn to Green Bonds to meet its needs.

‘With the public sector funding insufficient for this endeavour, there is a pressing need to mobilize private financing in the capital market.

‘For this, the sustainable bond market can play an important role in attracting private capital for investing in climate mitigation and adaptation, both of which are critically needed in Sri Lanka. This is a tremendous opportunity for the country that we must capitalise on.

Takafumi Kadono

‘Promoting sustainable capital market development is an integral component of the ADB’s work in Sri Lanka to promote sustainable recovery, build resilience and foster inclusive growth.

‘While the efforts of the Securities and Exchange Commission (SEC) and Colombo Stock Exchange (CSE) have been commendable in promoting Green and sustainable market yields much work remains to be done.

‘The ADB would mobilise its expertise to support pilot issuances of sustainable bonds in Sri Lanka, in collaboration with the SEC and CSE.

‘Green Bonds would help bring the fight against climate change to the forefront of sustainable development.’

Addressing gathering CSE chairman Dilshan Weeraskera said that with the DFCC bond issue there are many new companies to follow this which would help the capital market to invest in green economy related projects for the sustenance of the entire ecosystem.

He said that in 2023 total issuance of Green Bonds in the world was more than US $ 1 trillion, which Sri Lanka is now in a unique opportunity to use for the sustainable development of the country.

Chairman, SEC Faizal Salieh said that this type of issuance is crucial for the mitigation of environmental issues in order to protect vulnerable sections of society due to environmental issues.

The DFCC Bank’s Green Bond issue aimed at raising Rs 2.5 billion was oversubscribed. The bond issue was given an A- (lka) rating by Fitch Ratings. The notes, the first listed Green Bond issuance in Sri Lanka, will mature in three years with fixed coupons.



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SLEIS 2026 to examine Sri Lanka’s energy transition and its implications

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Reliable and affordable energy is essential to Sri Lanka’s economic growth, industrial development and competitiveness. As the country seeks to strengthen energy security while reducing its dependence on fossil fuels, the energy sector will be a key area of discussion at the Sri Lanka Economic & Investment Summit 2026, organised by The Ceylon Chamber of Commerce on 12-13 October 2026.

The session, “Beyond Fossil Dependence: Balancing Security, Sustainability, and Growth,” will examine how Sri Lanka can diversify its energy sources, accelerate renewable energy adoption and attract investment while ensuring a reliable energy supply for businesses and households. Discussions will also consider the infrastructure and policy frameworks needed to support the country’s transition towards a modern and competitive energy system.

Ms. Edore Onomakpome – Regional Infrastructure Industry Manager – Bangladesh, Sri Lanka and Nepal, at the International Finance Corporation will keynote the session, and join the panel discussion featuring G.M.R.D. Aponsu – Secretary to the Ministry of Energy, Damitha Kumarasinghe – Director General (Chief Executive Officer), Public Utilities Commission of Sri Lanka, and Manjula Perera – Managing Director, WindForce PLC. The discussion will be moderated by Sheran Fernando – Senior Advisor, Plus94.

The session will also explore the role of public-private collaboration in developing new energy solutions, encouraging investment and creating opportunities within Sri Lanka’s evolving energy sector. It will consider how energy policy and investment decisions can support both economic expansion and the country’s longer-term sustainability objectives.

The Sri Lanka Economic & Investment Summit 2026 is supported by its valued sponsors and partners. Platinum Sponsor – Standard Chartered Bank Sri Lanka, Gold Sponsor – VISA Worldwide (Pvt) Ltd., Bronze Sponsor – South Asia Gateway Terminals (Pvt) Ltd., Strategic Development Partner – Asian Development Bank, Telecommunication Partner – Dialog Telecommunication, Television Partner – Dialog Television, Session Sponsors – David Pieris Motor Company (Pvt) Ltd., Hemas Holdings PLC, Sunshine Holdings PLC, International Construction Consortium (Pvt) Ltd., Official Logistics Partner – Hayleys Advantis Limited, Official Airline – SriLankan Airlines Ltd., Official Hospitality Partner – Shangri-La Colombo, Airline Partner – China Eastern Air Holding Co. Ltd.

Registrations are now open at https://sleis.chamber.lk/. For more information, contact Alikie on 011 558 8805 (alikie@chamber.lk) or Shanuka on 0701082541 (events.division@chamber.lk).

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A fresh chapter for the George Keyt Foundation: A renewed commitment to the Sri Lankan art ecosystem

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The George Keyt Foundation (GKF), dedicated to preserving the legacy of modernist painter George Keyt and fostering local art, has announced strategic appointments to its leadership team, bringing together a mix of global academic expertise, corporate leadership, and artistic passion. These enhancements aim to inject fresh expertise and academic depth into the Foundation’s long-term vision.

Establishment of the New Advisory Committee

To broaden its operational reach and deepen its engagement with the global art market, the George Keyt Foundation has established an Advisory Committee. The newly appointed committee members include:

• Dr Sujatha Meegama is a Senior Lecturer in Buddhist Art History at the Courtauld. She is an acclaimed art historian, author and academic, bringing specialised knowledge in South Asian art history to guide the foundation’s curatorial and educational directives.

• Dr Shamil Wanigaratne: A clinical psychologist, author, and avid art historian, Shamil will lend his unique perspective to help the foundation design meaningful public outreach and cultural preservation strategies.

• Abbas Esufally: A veteran corporate leader and patron of the arts, Abbas is transitioning from his role as a GKF Trustee to this advisory position, where he will continue to offer his sharp business acumen and extensive network.

New Trustee Appointment

Leesha Captain has been appointed to the Board of Trustees. Inspired by Sri Lankan artists, Leesha is a recognised supporter of the local art scene. Leesha’s hands-on perspective will strengthen the foundation’s core team as they develop and design new art programs.

A Vision for the Future

“These new appointments mark an exciting chapter for us as we build on our decades-long history of promoting Sri Lankan artists,” says Malaka Talwatte, Chairman of the Foundation. “The combination of Leesha on the board, alongside the diverse expertise of our new Advisory Committee, will significantly amplify our efforts in curating high-profile exhibitions and expanding local and international partnerships”.

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Sun Siyam Pasikudah celebrates World Tourism Day with culture, cuisine and community

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Sun Siyam Pasikudah, part of the Privé Collection under Maldivian-owned Sun Siyam Resorts, will mark World Tourism Day on 27 September 2026 with a full day programme celebrating the culture, cuisine and natural beauty of Sri Lanka’s east coast, paired with community focused sustainability activities.

The celebrations open with a special buffet of authentic Sri Lankan cuisine, followed by a street food festival showcasing regional snacks and traditional sweets rarely found on resort menus. A signature World Tourism Day mocktail and cocktail, created for the occasion, will be served through the day, while traditional Sri Lankan cultural dance performances bring the island’s heritage to life for guests.

Beyond the festivities, the resort has planned a tree planting activity with guests and a beach or park clean up campaign, both reflecting Sun Siyam Pasikudah’s ongoing commitment to responsible tourism along Sri Lanka’s northeast coast.

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