The proposed project is a secured, 5-12 months senior loan of as much as US$15mn to Sanasa Growth Bank PLC (SDB), a licensed specialized financial institution (LSB) in Sri Lanka and an IFC client since 2010. This will certainly be one of IFCs first native forex debt funding in Sri Lanka and will support the enlargement of SDBs SME portfolio, with 25% earmarked for women-owned SMEs. Lowering the gender hole: In Sri Lanka, most girls-owned enterprises are in the micro house, with ladies-owned SMEs representing only 24% of all SMEs. The new branches will probably be established primarily in rural regions, the place access to finance for MSMEs is a challenge. Improvement Impression – Challenge OUTCOMES: Stakeholders: The mission will create better access to finance for around 20,000 women MSME clients at an inexpensive rate.
2,500 WMSMEs. Over the following five years, SFCL is projected to provide in whole 20,000 facilities to WOEs totaling c. The overall challenge price, overlaying the capital expenditure for the enlargement and added working capital, is estimated to be $110 million. The Bank has over 260 branches and 800 ATMs throughout Sri Lanka; and a customer base of over 3.5 million. SDB is headquartered in Colombo with 91 branches. SFCL is headquartered in Colombo with ninety branches. The project will even help SFCL extend its branch network over five years. Additional SenFin’s department growth would create around 250 new monetary sector jobs in rural regions. The 5-year senior loan will support SFCLs lending to ladies entrepreneurs (micro and SME clients) and enlarge its branch network in tier-II cities in Sri Lanka.
Further, this can be the first local forex funding by IFC in Sri Lanka. Telia, with over 6 million subscribers worldwide, had net revenue of $288 million on gross sales of $3.6 billion in 1998. – Project Cost Including proposed IFC funding The venture consists of the enlargement of Suntel”s nationwide Wireless Local Loop (WLL) community. USD 160 million (LKR 25 billion). IFC is considering fair funding of as much as US$1.4 million in the challenge for a 25% shareholding in the corporate. Increasing entry to finance: Through this mission, IFC will provide funding to approximately 5,000 SMEs over the next five years. 10,000 MSMEs within the agricultural value chain in Sri Lanka over the next five years. Generators generator sri lanka on the market – Gampaha in Sri Lanka.