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ComBank to boost WSME, Agri SME financing with IFC’s US$ 60Mn. risk sharing facility

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Sanath Manatunge, Managing Director/CEO of Commercial Bank and Allen Forlemu, the IFC Regional Industry Director for Financial Institutions Group – Asia and the Pacific, at the signing of the agreement.

Sanath Manatunge, Managing Director/CEO of Commercial Bank and Allen Forlemu, the IFC Regional Industry Director for Financial Institutions Group – Asia and the Pacific, at the signing of the agreement.Reinforcing its position as Sri Lanka’s largest lender to small and medium enterprises (SMEs), the Commercial Bank of Ceylon has partnered with the International Finance Corporation (IFC), a member of the World Bank Group, to significantly expand the Bank’s capacity to lend SMEs nationwide.

Under this partnership, IFC will provide risk cover for a US$60 million (equivalent to over Rs. 18.5 billion) portfolio of new SME loans issued by Commercial Bank. By assuming 50% of the credit risk, this facility empowers the Bank to sustainably scale its lending capacity and solidify its standing as Sri Lanka’s premier SME lender. This agreement comes at a time when Sri Lanka is consolidating recovery and capitalising on emerging growth opportunities across key sectors.

The Risk Sharing Facility (RSF) will prioritise women-led enterprises and agri-businesses. This targeted approach directly promotes financial inclusion while strengthening productive sectors essential to Sri Lanka’s long-term resilience and economic expansion, the Bank said.

Supported by the IDA Private Sector Window Blended Finance Facility, through the Small Loan Guarantee Program (SLGP), the Facility further enables the Bank to adopt a more flexible approach to credit assessment. By prioritising long-term business potential where traditional security might otherwise be a constraint, Commercial Bank can now extend vital funding to segments that have historically faced barriers to finance. Beyond expanding the Bank’s immediate lending headroom, this initiative is expected to catalyse broader market development by encouraging other financial institutions to enhance their own SME portfolios.

Commenting on the collaboration, Sanath Manatunge, Managing Director/CEO of Commercial Bank said: “This risk sharing facility with IFC represents a powerful vote of confidence in Commercial Bank’s long-standing commitment to Sri Lanka’s SME sector. As the country navigates post-crisis recovery, sustained access to credit is essential for small and medium enterprises to rebuild, adapt and grow. This partnership allows us to expand our lending capacity responsibly, while prioritising customer segments such as WSMEs and Agri Sector that are critical to inclusive and resilient economic growth.”

He added that the initiative is firmly aligned with the Bank’s purpose-driven SME strategy. “For five years running, Commercial Bank has been the largest lender to SMEs in Sri Lanka because we recognise these enterprises as the backbone of the economy. By working with IFC to share risk and unlock new financing, we are strengthening our ability to stand with entrepreneurs who create jobs, sustain communities and drive national development.”

Mr Allen Forlemu, the IFC Regional Industry Director for Financial Institutions Group – Asia and the Pacific said the partnership underscored IFC’s commitment to strengthening access to finance where it matters most. “Real economic progress happens when entrepreneurs have the tools to turn their resources into thriving enterprises. Through this collaboration with the Commercial Bank of Ceylon, we aim to deliver targeted solutions to bridge the financing gap and expand financing capacity for small businesses across Sri Lanka. Our goal is to create a ripple effect: when these businesses succeed, they create jobs, support families, and build a more inclusive future. This latest initiative continues IFC’s more than two-decade partnership with Commercial Bank, advancing SME growth and economic resilience – fully aligned with the World Bank Group’s mission and supporting national development priorities.”

Commercial Bank has been Sri Lanka’s largest lender to Sri Lanka’s SME sector for the past five consecutive years, accounting for more than 30 per cent of total SME lending by the banking industry in 2024, according to Ministry of Finance data. This new facility builds directly on that leadership, allowing the Bank to further deepen its reach and impact among SMEs that play a vital role in employment generation, domestic production and economic resilience.

The collaboration also reflects a long-standing strategic partnership between Commercial Bank and IFC that dates back more than two decades. Over the years, IFC has supported the Bank’s growth through equity investments, funding and advisory services, with a shared focus on SME development, women’s economic empowerment, sustainable finance, digitalisation and economic resilience.

By building on its deep institutional partnership with IFC, Commercial Bank continues to reinforce its leadership in SME financing, combining scale, innovation and development-focused collaboration to support enterprises across Sri Lanka as they recover, expand and contribute to sustainable economic growth.



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Private taxi operators at BIA call for speedy rental relief as tourist arrivals dwindle

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Tourists in SL: Dwindling numbers

Private taxi operators at Bandaranaike International Airport are calling for urgent rental relief, stating that they are struggling to sustain operations after paying nearly Rs. 19 million in monthly rental fees amid a sharp decline in tourist arrivals during the off-season.

The operators said tourist arrivals have dropped by nearly 80%, severely affecting their income and making it difficult to continue meeting high operational costs.

“Only a small number of tourists are now arriving at the airport, and a majority of them are being taken by metered taxi operators, who pay only around Rs. 700 per ride as fees to Airport and Aviation Services, an operator said.

According to the operators, the six long-standing private taxi service providers at the airport each pay monthly rentals ranging from approximately Rs. 2.9 million to Rs. 4 million. In addition, they are required to maintain a minimum a fleet of six vehicles along with dedicated airport staff.

“What we are requesting is a temporary reduction in monthly rental payments for around three to four months until tourist arrivals improve and the industry returns to normal, they said.

The operators noted that they have been operating at the airport for more than two decades, providing transport services to both local and international travelers, while metered taxi services entered the airport transport sector only about two years ago.

They also alleged that metered taxi operators have been granted more favourable operating conditions and questioned the process through which those operators were allowed to operate at the airport.

Operators argue that the present financial burden has become unsustainable, given the sharp drop in business volumes and what they describe as an uneven competitive environment within the airport transport system.

“What we are requesting is a 50% reduction in monthly rental fees for a period of at least three months, they said.

They also raised concerns about the quality and condition of some vehicles operated by metered taxi providers.

“Passengers are often unaware of the condition of some of these vehicles until they enter them, which can compromise safety standards, one operator claimed.

In contrast, the private airport taxi operators say they maintain newer vehicles and employ experienced, professionally trained drivers to ensure higher standards of passenger safety and service quality.

The operators warned that failure to address the issue could have wider economic and social consequences. The six service providers collectively employ around 250 staff, and continued financial pressure may lead to job losses and a reduction in organised airport transport services.

By Hiran H Senewiratne

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Refurbished AAC Call Box declared open

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The operation of Automobile Association of Ceylon(AAC) Call Boxes, in the past had provided yeoman service to many motorists including during the era of British planters. AAC services for members are a motoring security when they travel.

The Call Box in Nuwara Eliya was recently refurbished to provide a better and improved service to the Members in the area and the touring public. Now from this Call Box the motorists could get Road Side Assistance, Valuation Reports, Technical Advice and also issuance of International Driving Permits.

The refurbished Call Box at Nuwara Eliya was declared open by Dhammika Attygalle, President of the Association in the presence of S V Ganesh – Vice President, several Executive Committee members, Puthrasigamani, Life Member of the Association, Eng. C S Samarasekera of RDA- Nuwara Eliya, Devapriya Hettiarachchi, Secretary (AAC) and Eng. C L Liyanasuriya – Chief Engineer(AAC).

The services from the Nuwara Eliya Call Box are available from 8.00am to 5.00pm.

Call Technical Officer Sampath Madagama on 0767315696.

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Ceylon Chamber of Commerce to host Sri Lanka Climate Summit 2026

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From Risk to Opportunity: Mainstreaming Climate Action into Sri Lanka’s Growth Story

As climate rules tighten globally and investor expectations shift from commitment to compliance, climate action is now directly tied to trade, competitiveness, and access to finance. Against this backdrop, The Ceylon Chamber of Commerce will host the second edition of the Sri Lanka Climate Summit on 9 June 2026 at the Taj Samudra Hotel, convening policymakers, industry leaders, financiers, and technical experts to focus on pathways for integrating climate action into Sri Lanka’s growth story.

Held as a biennial platform, the Summit returns this year under the theme “From Risk to Opportunity: Mainstreaming Climate Action into Sri Lanka’s Growth Story.” While the inaugural edition in 2024 focused on building awareness and advocacy, the 2026 Summit shifts the conversation toward implementation, technical readiness, and compliance as climate-related obligations begin to directly influence access to markets, finance, and investment.

Rather than treating sustainability as a standalone agenda, this year’s discussions will explore how climate considerations are becoming embedded across core areas of business and economic decision-making, from infrastructure and trade to finance, governance, digitalisation, agriculture, and supply chains.

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