PROJECT

Projects

Summary of Investment Information

Project Number

44214

Company Name

COMMERCIAL BANK OF CEYLON PLC

Date SPI Disclosed

May 28, 2020

Country

Sri Lanka

Region

South Asia

Projected Board Date

May 26, 2020

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Jun 11, 2022

Department

Regional Industry - FIG Asia & Pac

Industry

Financial Markets

Previous Events

Approved : Jun 3, 2020
Signed : Jun 5, 2020
Invested : Jun 26, 2020

Sector

Commercial Banking - Trade and Supply Chain

Project Description

The proposed investment comprises of a one-year (renewable up to two years) Working Capital Solutions (WCS) loan of US$50 million to Commercial Bank of Ceylon (“CBC” or the “Bank”) under the IFC COVID 19 Emergency Response WCS Envelope (WCS FIGE), which seeks to provide private sector-focused support to help alleviate the financing needs of companies in affected countries to maintain trade flows, stabilize the economy, support employment, and restore supplies of key goods and services.                                                   

Associated Advisory Engagement

N/A                                                   

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation