The Sri Lankan government is shifting gears towards economic transformation and inclusive and sustainable growth, placing a stronger focus on private sector engagement

The Sri Lankan government is shifting gears towards economic transformation and inclusive and sustainable growth, placing a stronger focus on private sector engagement. Sustainable finance emerges as a pivotal tool in fostering public-private partnerships essential for the country's recovery and prosperity.

In line with this vision, the Sustainable Development Council (SDC) established a formal collaboration with the Sri Lanka Bank’s Association’s Sustainable Banking Initiative (SLBA SBI) and the Ceylon Chambers of Commerce (CCC) to work together to explore sustainable finance innovations and are currently exploring options for a country-level blended finance facility based on a platform model to mobilize private and non-profit sector resources to support the government's efforts to achieve the Sustainable Development Goals (SDGs.)

Sustainable Development Council facilitated a meeting between Convergence (the global network for blended finance) its Senior Advisor for the Asia Pacific Region, Ritesh Thakkar, SLBA SBI and CCC to discuss the design and structure of such a facility, options for prioritizing high-impact investment opportunities, identify potential partners and collaborators and a pipeline of projects for the blended finance facility.

Adheesha Chathuranga, a Core Group Member of the SLBA SLBI and Nalin Karunathilake, Vice President (Sustainability and Consulting) of DFCC Bank, presented the concept and the proposed structure of the proposed Blended Finance Platform as well potential projects that could leverage the SL Blended Finance Platform.

The meeting was attended by the Director General, Chamindry Saparamadu and staff of the Sustainable Development Council (SDC), Bingumal Thewarathanthri, Chairman of SLBA / CEO of Standard Chartered Bank of Sri Lanka, Buwanekabahu Perera, CEO and Secretary General of the CCC and representatives from Convergence, the Banking sector (representing Seylan Bank, Hatton National Bank, Standard Chartered Bank, Commercial Bank, DFCC Bank) and CCC.