HNB PLC entered into an agreement with Proparco to raise US$ 50 m through a five year senior long term loan.
This is the third debt raising exercise completed by HNB this year from international funding institutions increasing the total amount raised from foreign sources to US$ 185mn.
At the signing ceremony held in Colombo HNB CEO Jonathan Alles said the willingness exhibited by institutions of the stature of Proparco to partner with HNB provides testimony to HNB's financial strength and stability and serves as an endorsement of our robust risk management and governance frameworks.
He said the funds raised will be utilized to fund SME and agriculture businesses.
"HNB since its inception has been serving the SME sector and has been a key enabler in driving the growth in this segment. This transaction will further strengthen our market position in SME lending while contributing to boost economic growth,"he said.
Proparco's Chief Investment Officer Amaury Mulliez said Proparco is contributing to strengthening a player that finances two key economic sectors in Sri Lanka. Proparco is the private sector financing arm of Agence Francaise de Development (AFD) and has been working to support world development initiatives for over 40 years.
Proparco plays a key role in financing and supporting projects lead by companies and financial institutions in developing and emerging countries focusing mainly on infrastructure, renewable energies, agriculture, finance, health and education sectors.
www.dailynews.lk
This is the third debt raising exercise completed by HNB this year from international funding institutions increasing the total amount raised from foreign sources to US$ 185mn.
At the signing ceremony held in Colombo HNB CEO Jonathan Alles said the willingness exhibited by institutions of the stature of Proparco to partner with HNB provides testimony to HNB's financial strength and stability and serves as an endorsement of our robust risk management and governance frameworks.
He said the funds raised will be utilized to fund SME and agriculture businesses.
"HNB since its inception has been serving the SME sector and has been a key enabler in driving the growth in this segment. This transaction will further strengthen our market position in SME lending while contributing to boost economic growth,"he said.
Proparco's Chief Investment Officer Amaury Mulliez said Proparco is contributing to strengthening a player that finances two key economic sectors in Sri Lanka. Proparco is the private sector financing arm of Agence Francaise de Development (AFD) and has been working to support world development initiatives for over 40 years.
Proparco plays a key role in financing and supporting projects lead by companies and financial institutions in developing and emerging countries focusing mainly on infrastructure, renewable energies, agriculture, finance, health and education sectors.
www.dailynews.lk
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