NATIONAL DEVELOPMENT BANK PLC
Status: Completed investmentWhy disclosure?
FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more
In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
National Development Bank PLC (NDB) was established in 1979 in Sri Lanka as a wholly state-owned development bank. After its transition into a privatized entity in 1993, the bank expanded its range of financial products and services through the formation of subsidiary and associate companies. NDB provides an integrated range of products and services in corporate and SME banking, retail banking, capital markets and insurance.
What is our funding objective?
FMO's funding will be used to grow the company's renewable energy portfolio (at least 40% of the funds) and agri portfolio (at least 10% of the funds) to better serve the bank's end-clients.
Why do we fund this investment?
Green finance, particularly renewable energy, is increasingly important to FMO's investment strategy. This investment allows FMO to support green finance at the end-user level. Additionally, by providing long term US dollar funding for the renewable energy portfolio, FMO will better match the company's funding needs and portfolio tenors.
More investments
| Date | Total FMO financing |
|---|---|
| 10/20/2017 | USD 15.00 MLN |
- Region
- Asia
- Country
- Sri Lanka
- Sector
- Financial Institutions
- Effective date
- 9/29/2014
- End date
- 11/21/2022
- Total FMO financing
- USD 15.00 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B