The United States government has disbursed U$150 million in financing to DFCC Bank to support sustainable development of Sri Lankan community-based businesses, the US Embassy in Colombo said.
This is the largest loan disbursement by the U.S. Development Finance Corporation (DFC) for Sri Lanka, and it is part of a $265 million commitment designed to support the local Micro, Small, and Medium Enterprise (MSME) sector, especially women-led enterprises in Sri Lanka.
Through this partnership, DFCC Bank will provide lending solutions in priority sectors and support Sri Lanka’s commitment to achieve the United Nations Sustainable Development Goals, particularly enhancing the country’s efforts to promote women entrepreneurship.
A portion of the DFC loan will be directed towards MSMEs owned or led by Sri Lankan women to tackle one of the biggest issues faced by women entrepreneurs: limited access to finance.
Disbursing the funds, U.S. Chargé d’Affaires to Sri Lanka and Maldives Martin Kelly said: “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.