In April 2017, OeEB signed a long-term credit line of USD 15 million to support Seylan Bank Sri Lanka in providing financing to local micro, small and medium-sized enterprises (MSME).
|Project name||Seylan Bank PLC|
|Region||Southern and Eastern Asia|
|Sector||Financial sector / Microfinance / SME|
|Project country||Sri Lanka|
|OeEB project volume||USD 15 million|
|Projekt partner(s)||Seylan Bank PLC, DEG, OFID|
Seylan is one of the largest banks in Sri Lanka with an extensive nationwide network. The bank is specialised in providing financing to MSME and was honoured as "Best SME Bank Sri Lanka" in 2014.
The USD 45 million credit line provided by OeEB together with German DEG and the Opec Fund for International Development (OFID) enables Seylan Bank to extend its MSME-business. At least 35% of the funds will be used for the financing of MSME in the northern and eastern provinces of Sri Lanka, which were most affected by the country's civil war.
Additionally, OeEB provides Technical Assistance Funds for the development of an Environmental and Social Management System (ESMS) as well as trainings for employees in order to assist Seylan Bank in implementing international standards.