Sri Lanka, Jan. 27 -- Reinforcing its position as Sri Lanka's largest lender to small and medium enterprises (SMEs), the Commercial Bank of Ceylon has partnered with the International Finance Corporation (IFC), a member of the World Bank Group, to significantly expand the Bank's capacity to lend SMEs nationwide.

Under this partnership, IFC will provide risk cover for a US$60 million (equivalent to over Rs. 18.5 billion) portfolio of new SME loans issued by Commercial Bank. By assuming 50% of the credit risk, this facility empowers the Bank to sustainably scale its lending capacity and solidify its standing as Sri Lanka's premier SME lender. This agreement comes at a time when Sri Lanka is consolidating recovery and capitalising on emergi...