“Symbiotics launches Green Bond in Sri Lanka with Seylan Bank” – Symbiotics – July 28, 2021

In a press release distributed on July 28, 2021 Symbiotics reported that it “has arranged a USD 15.1 million Green Bond for Seylan Bank PLC (“Seylan”).

Seylan will use the proceeds of the Green Bond for financing renewable energy projects within Sri Lanka, such as mini hydro power plants up to 25MW, solar and wind power facilities.  All projects will contribute to green energy generation within the country.

‘With this Green Bond issuance, Seylan Bank demonstrates its continuous commitment to sustainable finance, in particular the renewable energy sector, to which the proceeds of this bond will be allocated to,’ said Daniel Schriber, Head of Investments at Symbiotics.

‘Seylan Bank is honored to welcome the lending facilities from Micro, Small & Medium Enterprises Bonds S.A. serviced by Symbiotics S.A. Enabling the growth and development of Sri Lankan micro, small or medium enterprise (MSME) customers has been a key priority of Seylan Bank which was further strengthened by this transaction. In a post-pandemic landscape, a large responsibility lies on us as a Bank to uplift the MSME customers. The USD 15.1 million loan earmarked for eligible green projects comes at a time when national policy encourages a more sustainable businesses which are environmental and social friendly.  We believe these valuable engagements would support Seylan Bank to be part of the sustainable development of Sri Lankan economy gradually,’ added Champika Dodanwela, Chief Financial Officer at Seylan Bank.”

You may read the press release on the news page of the Symbiotics internet site.