Sampath Bank joins ADB’s trade and supply chain finance programme

Sanjaya Gunawardana, Managing Director Designate of Sampath Bank and Takafumi Kadono, Sri Lanka Country Director of the Asian Development Bank (centre), at the partnership ceremony, along with senior representatives of Sampath Bank and the Asian Development Bank

Sampath Bank PLC has joined the Asian Development Bank’s (ADB) Trade and Supply Chain Finance Programme (TSCFP), which will allow widening access to trade finance across Sri Lanka.

The partnership was formalised at the bank’s head office in Colombo recently with Sampath Bank Managing Director Designate Sanjaya Gunawardana and ADB Sri Lanka Country Director Takafumi Kadono signing the agreement.

“ADB is pleased to partner with Sampath Bank under the TSCFP, reaffirming our commitment to strengthening Sri Lanka’s private sector and building a resilient financial ecosystem. Through this collaboration, ADB and Sampath Bank will unlock greater access to trade finance for businesses engaged in international trade, driving business growth and regional integration,” Kadono said.

With the agreement, trade finance instruments issued by Sampath Bank will qualify for ADB’s credit guarantees, reducing risk in cross-border transactions and attracting more international banking partners. The bank said this will enable it to offer a stronger lineup of trade finance solutions to a wider range of businesses.

“Joining the TSCFP now is a timely development as revitalising trade is key to Sri Lanka’s economic recovery. This partnership enables us to extend our support to exporters and importers, while advancing our mission of inclusive and sustainable growth,” said Gunawardana.

Backed by ADB’s AAA credit rating, the TSCFP has since 2009 supported more than 121,000 transactions worth about US$ 77 billion across Asia through a global network of over 200 partner banks.

Sampath Bank said it has already begun collaborating with ADB on the programme’s capacity-building efforts to upgrade trade finance operations through enhanced risk management strategies and streamlined procedures.

The partnership is expected to catalyse Sri Lanka’s participation in regional and global trade, supporting importers and exporters in expanding their businesses and achieving new milestones in international markets.