PROJECT

Projects

Summary of Investment Information

Project Number

40668

Company Name

SENKADAGALA FINANCE PLC

Date SPI Disclosed

Jan 25, 2018

Country

Sri Lanka

Region

South Asia

Projected Board Date

Feb 28, 2018

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Jul 22, 2023

Department

Regional Industry - FIG Asia & Pac

Industry

Financial Markets

Previous Events

Approved : Mar 20, 2018
Signed : Mar 21, 2018
Invested : Mar 29, 2018

Sector

Other Non-Banking Financial Institution (NBFI)

Additional Project Attributes

Blended Finance

Project Description

  The project comprises of a senior loan of up to US$ 15 million to Senkadagala Finance PLC (SFCL), a licensed finance company in Sri Lanka and an IFC client since 2014. This will be IFC’s first intervention in Sri Lanka targeted exclusively at women entrepreneurs to increase female participation in the economy. The 5-year senior loan will support SFCL’s lending to women entrepreneurs (micro and SME customers) and the expansion of its branch network in tier II cities in Sri Lanka. Further this would be the first local currency funding by IFC in Sri Lanka.

                                                  

Associated Advisory Engagement

  IFC is in discussions to potentially assist SFCL to further develop the Company’s gender lending strategy.                                                   

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation