Business
Developing Asia seen as needing US$ 1.7 trillion annually to meet growth targets between 2016 and 2030
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.
Business
HNB Finance bags 2 CMA Reporting Awards 2025
HNB Finance PLC has been honoured with two prestigious accolades at the CMA Excellence in Integrated Reporting Awards 2025, reaffirming the company’s commitment to transparency, good governance, and integrated business performance.
At this year’s ceremony, HNB Finance PLC was awarded Second Runner Up – joint in the category of “Best Integrated Report , Finance and Leasing Sector”, and also received a Merit Award in recognition of its continued efforts to enhance reporting quality and strengthen stakeholder communication.
The CMA Excellence in Integrated Reporting Awards, organised annually by the Institute of Certified Management Accountants (CMA) of Sri Lanka, acknowledge organisations that demonstrate superior financial reporting standards aligned with global best practices. Winners are assessed on key criteria such as financial performance and strategic management, corporate governance and compliance, innovation and digital transformation, sustainability practices, and professional excellence.
Chaminda Prabhath, Managing Director/CEO of HNB Finance PLC, commented on the recognition, “These awards reaffirm our commitment to upholding the highest standards of integrated reporting and transparent financial disclosure. At HNB Finance, we remain focused on delivering sustainable long-term value through robust governance frameworks, prudent financial management, and continuous innovation. The acknowledgement by CMA Sri Lanka reflects the disciplined efforts of our teams across the organization and motivates us to further enhance our reporting quality, strengthen ESG integration, and reinforce our stakeholder centric approach.”
Business
ComBank joins ‘Liya Shakthi’ scheme to further empower women-led enterprises
The Commercial Bank of Ceylon has reaffirmed its long-standing commitment to advancing women’s empowerment and financial inclusion, by partnering with the National Credit Guarantee Institution Limited (NCGIL) as a Participating Shareholder Institution (PSI) in the newly introduced ‘Liya Shakthi’ credit guarantee scheme, designed to support women-led enterprises across Sri Lanka.
The operational launch of the scheme was marked by the handover of the first loan registration at Commercial Bank’s Head Office recently, symbolising a key step in broadening access to finance for women entrepreneurs.
Representing Commercial Bank at the event were Mithila Shyamini, Assistant General Manager – Personal Banking, Malika De Silva, Senior Manager – Development Credit Department, and Chathura Dilshan, Executive Officer of the Department. The National Credit Guarantee Institution was represented by Jude Fernando, Chief Executive Officer, and Eranjana Chandradasa, Manager-Guarantee Administration.
‘Liya Shakthi’ is a credit guarantee product introduced by the NCGIL to facilitate greater access to financing for women-led Micro, Small, and Medium Enterprises (MSMEs) that possess viable business models and sound repayment capacity but lack adequate collateral to secure traditional bank loans. Through NCGIL’s credit guarantee mechanism, Commercial Bank will be able to extend credit to a wider segment of women entrepreneurs, furthering its mission to drive inclusive economic growth.
Business
Prima Group Sri Lanka supports national flood relief efforts with over Rs. 300 Mn in dry rations
Prima Group Sri Lanka has pledged assistance valued at over Rs. 300 million, providing essential Prima food products to support communities affected by the recent floods across the island. This relief initiative is being coordinated through the Ministry of Defence to ensure the timely and effective distribution of aid to impacted families.
As part of this commitment, Prima Group Sri Lanka donated a significant stock of Prima dry rations to the Government of Sri Lanka on 30 November. The consignment will be distributed across multiple severely impacted districts. These supplies will support families facing disruptions to daily life, ensuring they receive assistance as recovery efforts continue.
The handover took place at the Ministry, where the donation was received by the Secretary of Defence, Air Vice Marshal (Retired) Sampath Thuyacontha. Representing Prima Group Sri Lanka, Sajith Gunaratne – General Manager of Ceylon Agro Industries Limited, and Sanjeeva Perera – General Manager of Ceylon Grain Elevators PLC, officially presented the donation.
Prima Group has been standing with the people of Sri Lanka for over 40 years, and this donation reflects its broader commitment to the nation during challenging times. As relief operations continue across the island, the company remains focused on helping families rebuild their lives and supporting the ongoing recovery process in collaboration with the Government Authorities.
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