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ComBank to boost WSME, Agri SME financing with IFC’s US$ 60Mn. Risk Sharing Facility

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ComBank to boost WSME, Agri SME financing with IFC’s US$ 60Mn. Risk Sharing Facility

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.”

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.Commercial Bank is the first Sri Lankan bank with a market capitalisation exceeding US$ 1 Bn., and was also the first bank in the country to be listed among the Top 1000 Banks of the World.



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SriLankan Airlines Enhances Australia Connectivity with 14 Weekly Flights

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11 March 2026; Colombo – SriLankan Airlines is set to increase its weekly service between Colombo and Melbourne to 10 flights, effective from 2 August 2026, with the addition of three more scheduled flights in response to growing demand and evolving market dynamics. The expansion reinforces the airline’s commitment to strengthening its footprint in Australia, recently identified as one of the fastest-growing inbound tourism markets to Sri Lanka, driven by leisure travel and a rising volume of visits by family and friends.

The newly added flights will operate every Tuesday, Thursday and Sunday, departing Colombo as UL608 at 14:10 hrs and arriving in Melbourne at 04:30 hrs the following day. The return service, UL609, will depart Melbourne every Wednesday, Friday and Monday at 06:00 hrs, arriving in Colombo at 12:15 hrs the same day, offering convenient onward connections across the airline’s network. The schedule is designed to maximise time spent in Sri Lanka for leisure travellers while enhancing connectivity for passengers travelling onwards to India via Colombo.

In addition to the new frequencies, the airline will continue operating its daily service, UL604, departing Colombo at 00:20 hrs and arriving in Melbourne at 14:40 hrs, with the return service UL605 departing Melbourne at 16:10 hrs and arriving in Colombo at 22:25 hrs. These services provide seamless connectivity to key destinations across India and beyond.

This addition of flights will provide Sri Lankans with better options when choosing flights between the two countries and enable them to plan their travel more conveniently. The increased frequency will be especially beneficial for the Sri Lankan diaspora living in Australia, providing greater flexibility to visit family and friends while maintaining strong connections with their homeland.

Additionally, Sri Lankan students studying in Australia will find these enhanced services advantageous, as the expanded schedule accommodates academic calendars and holiday breaks, making it easier to travel home and return to their studies. Overall, improved connectivity supports both the expatriate community and students by offering more convenient and accessible travel options tailored to their needs.

The increased frequencies will further strengthen Colombo’s role as a regional hub, enabling Indian travellers to seamlessly connect via Sri Lanka to Melbourne, with convenient schedules and efficient onward connections. For more information and bookings, visit www.srilankan.com or follow us on our social media.

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Nestlé Lanka marks 120 years of nourishing Sri Lankan families and livelihoods

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Nestlé Lanka Chairman and Managing Director Bernie Stefan (left) and Ruwan Welikala, Director – Corporate Affairs and Communications, provide an overview of Nestlé Lanka’s 120-year journey in Sri Lanka at a media briefing held on March 10 at Cinnamon Life – City of Dreams, Colombo. Pic by Nishan S. Priyantha

Nestlé Lanka Limited this year marks 120 years of operations in Sri Lanka, highlighting a century-long presence that has extended beyond food manufacturing to supporting farmers, communities, youth employment and environmental sustainability.

Established in 1906, the company has grown into one of Sri Lanka’s leading food and beverage manufacturers, today producing more than 90% of the products it sells locally. Over the decades, Nestlé Lanka has built a strong domestic footprint through local sourcing, long-term farmer partnerships and continued investment in manufacturing.

Through widely recognised brands such as Nestomalt, Milo and Maggi, the company has become a familiar presence in Sri Lankan households, offering products designed to meet local nutritional needs. Many of its products are fortified with micronutrients aimed at improving dietary intake, while brands such as Milo and Nestomalt have also supported youth sports and active lifestyles in the country.

Nestlé Lanka’s engagement with local agriculture has also played a role in strengthening rural livelihoods. The company works closely with dairy and coconut farmers, providing technical assistance, skills development and reliable market access as part of its responsible sourcing efforts.

The company has also expanded programmes aimed at improving youth employability. Through the “Nestlé Needs YOUth” initiative, young Sri Lankans are provided with access to training, learning and career opportunities. Partnerships with organisations such as BConnected have also helped promote inclusive employment opportunities for people with disabilities.

Sustainability has become an increasingly central focus of the company’s operations. Nestlé Lanka’s manufacturing facility in Kurunegala operates on 100% renewable electricity, while a biomass boiler commissioned in 2024 has helped reduce carbon emissions from manufacturing. The company aims to achieve net-zero carbon emissions by 2050.

Efforts to reduce environmental impact have also extended to packaging. Nestlé Lanka pioneered the shift from plastic to paper straws in aseptic beverage cartons in 2019 and supported the establishment of Sri Lanka’s first recycling plant for such cartons. The company aims to become fully plastic neutral by 2026.

Chairman and Managing Director Bernie Stefan said the milestone reflects the long-standing trust Sri Lankan consumers have placed in the company and the partnerships it has built across the country over generations.

By Sanath Nanayakkare

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Over a century of Business History goes to the National Archives

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At the symbolic handing over: Director General of the National Archives Department Dr. Nadeera Rupesinghe (L) and chairperson, Ceylon Chamber of Commerce Krishan Balendra.

The Ceylon Chamber of Commerce has formally handed over its historical records to the National Archives Department of Sri Lanka, placing over a century of the nation’s commercial history into the care of the country’s official custodians of heritage.

The historical archive being handed over spans from the Chamber’s founding in 1839 to 1973, and includes correspondence, meeting minutes, reports, ledgers, and publications that chronicle the development of trade, enterprise, and industry in Sri Lanka. Together, these records provide a rare and detailed account of how the island’s economy evolved and how its business community helped shape national progress.

The Ceylon Chamber of Commerce was established on 25 March 1839 on the principle that the interests of commerce and trade are best advanced when merchants unite and cooperate in matters affecting the common good. At the time, Ceylon was among the earliest regions in Asia to establish a chamber of commerce, alongside counterparts in Bengal, Bombay, Madras, Canton, Penang, and Singapore.

From its earliest years, the Chamber played a central role in organising and guiding trade. It played a central role in establishing and growing the export economy built on commodities such as coffee, cinnamon, coconut oil, tea, and rubber, and hosted the island’s renowned tea and rubber auctions. It also developed rules and standards for trading practices, helping create an environment of trust and reliability that enabled Sri Lanka’s commerce to thrive.

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