The German development finance institution DEG has provided a loan of US$ 30 million repayable over eight years to DFCC Bank, Sri Lanka’s pioneer development bank.
The money is meant to be utilized for granting sub loans targeted at the SME sector across a wide range of businesses including the renewable energy sector. The related loan agreements were signed in Colombo on October 6 by DFCC Bank CEO Nihal Fonseka and DEG Senior Vice President, Bernd Tuemmers.
This credit line will supplement and diversify DFCC’s long-term funds pool and support our lending activities to green field projects”.
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