'SDB bank to get $ 40 million boost from DFC'

Wednesday, 3 February 2021 00:20 - - {{hitsCtrl.values.hits}}

SANASA Development Bank PLC revealed yesterday it has been granted a $ 40 million loan from the US International Development Finance Corporation (DFC), the arm of the US Government Development Bank, subject to regulatory approval.

In a filing to the Colombo Stock Exchange, SANASA Development Bank together with DFC funding aims to support small and medium enterprises and women entrepreneurs, private sector investment, and economic growth in Sri Lanka.

As at 30 September 2020, SANASA Development Bank’s loans and advances portfolio amounted to Rs. 98.6 billion, up by 15% from 31 December 2019.