Sri Lanka, July 1 -- LB Finance PLC has secured US$ 35 million in long-term funding from Norway's Norfund and Sweden's Swedfund.
The deal is expected to channel fresh foreign capital into Sri Lanka's small business sector at a time when access to long-term financing remains limited despite the country's improving economic outlook.
The facility, comprising US$ 20 million from Norfund and US$15 million from Swedfund, marks the first partnership between the two European development finance institutions and LB Finance, the country's second-largest non-bank financial institution with assets exceeding Rs.400 billion.
The funding will be used to expand lending to micro, small and medium enterprises (MSMEs), support the adoption of climate-smart...