Nine local banks to provide Rs.5.2bn in green funding

Nine local commercial banks and two financial institutions acting as participating credit institutions will loan Rs.5.2 billion under a state-sponsored loan scheme for green initiatives by the manufacturing sector small and medium-scale enterprises. 

An Industry and Commerce Ministry statement said Bank of Ceylon, Commercial Bank, People’s Bank, DFCC Bank and Regional Development Bank are among the local banks that support this endeavour. .

“The scheme will provide more than 5,000 Lankan industries low-cost loans (at 6.5 percent per annum) at a total Rs.5.2 billion for the next three to five years for their industry upgrades related to green and environment friendly initiatives,” the ministry statement said.