Alliance Finance Company launches green bond on CSE

AFC COO Aruna Rodrigo, Central Bank Supervision of Non-Bank Financial Institutions Department Director Chanoori Jayasinghe, ADB Financial Sector Specialist Uresha Walpitagama, CSE CEO Rajeeva Bandaranaike, CSE Chairman Dilshan Wirasekara, AFC Deputy Chairman and Managing Director Romani De Silva, AFC Deputy Managing Director Kusal Jayawardana, CSE CEO Designate Vindhya Jayasekera, CSE CRO Renuke Wijayawardhane, NDBIB COO Kaushini Laksumanage and AFC Executive Director Recoveries Michael Benedict

Alliance Finance Company PLC (AFC), Sri Lanka’s oldest operating non-banking financial institution, marked a significant milestone with the issuance of its green bond on the Colombo Stock Exchange (CSE). 

The bell ringing ceremony, held on February 27, 2025, at the CSE Trading Floor, symbolised the company’s commitment to sustainable finance and responsible investment.

The listed, rated, guaranteed, senior, redeemable three-year green bond, offering up to 10 million bonds, at a par value of Rs.100 per bond, opened on February 17, 2025 and was oversubscribed on the opening day itself. 

The overwhelming investor response reflects a growing confidence in sustainable financial instruments and a strong demand for responsible investment opportunities.

Delivering the opening remarks, CSE Chairman Dilshan Wirasekara began by congratulating AFC on its achievement. 

He stated, “AFC has long set the benchmark for sustainability in the financial sector, going beyond compliance to true commitment, with a commendable dedication to the ‘people, planet and profit’ philosophy.”

He further noted, “With global sustainable investments reaching nearly US $ 40 trillion, Sri Lanka has immense potential to attract such funding, particularly in areas like renewable energy. I encourage other financial institutions to take inspiration from AFC’s pioneering approach and actively contribute to this growing sector.”

Next, Asian Development Bank (ADB) Financial Sector Specialist Uresha Walpitagama expressed, “We are proud to support the development of a clean and socially sustainable capital market financing ecosystem in Sri Lanka. Through initiatives like the green bond listing framework and related efforts, we are seeing the growing interest and momentum for green bond issuances, ensuring the sustainability of our work. We are pleased to continue partnering with the SEC and CSE in this important journey.”

AFC Deputy Chairman and Managing Director Romani De Silva highlighted the significance of this momentous achievement, stating, “It is with great pride and gratitude that I dedicate this achievement to the 1,850 employees of the AFC family, who truly embody our company’s purpose—making the world a better place through sustainable finance and creating lasting value for the communities we serve. Our journey began with a people-centric ethic and a focus on serving underprivileged communities and today, we continue to uphold those values, going beyond compliance to drive sustainable change.”

AFC has been a pioneer in sustainable finance since its inception in 1956. With a strong commitment to financial inclusion and responsible lending, the company has empowered thousands of micro, small and medium enterprises, while contributing to the country’s economic growth. Aligning its strategies with global best practices, including the ICMA Green and Social Bond Principles, AFC continues to drive innovation in ethical and impact-driven financial solutions. 

With the successful issuance of green bonds on the CSE, the company reinforces its dedication to fostering sustainable development and creating long-term value for investors and communities alike.