Sri Lanka’s DFCC gets US$150mn from US development lender

ECONOMYNEXT – Washington-based United States Development Finance Corporation (DFC) has 150 million US dollars to Sri Lanka’s DFCC Bank for lending to women led businesses, the US embassy in Colombo said.

The tranche is part of 265 million US dollar credit the DFC has committed to support micro, small, and medium enterprises in Sri Lanka with a special focus on women-led businesses.

“Gender equity and equality are key aspects of the bold new global infrastructure initiative Build Back Better World (B3W) that President Biden and G7 partners launched earlier this year,” U S Chargé d’Affaires to Sri Lanka and Maldives Martin Kelly said.

“We look forward to seeing this funding make a difference for Sri Lankan communities, for small and medium business, and for women entrepreneurs as we all recover from the pandemic.”

One of the biggest issues faced by women entrepreneurs is limited access to finance, the US embassy said.

DFCC Bank will lend to achieve the United Nations Sustainable Development Goals, boosting efforts to promote women entrepreneurship. (Colombo/Nov13/2021)

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