Sri Lanka Sustainable Banking Initiative: Promoting environmental and social good practices in Sri Lanka

Amana Bank, Bank of Ceylon, Cargills Bank, Commercial Bank of Ceylon, DFCC Bank, Habib Bank, Hatton National Bank, MCB Bank, National Development Bank, Nations Trust Bank, Pan Asia Bank, Peoples Bank, Regional Development Bank, Sampath Bank, Sanasa Development Bank, Seylan Bank, Sri Lanka Savings Bank and Union Bank

In 2015, the Sri Lanka Banks’ Association (SLBA) developed and signed the “11 Sustainable  Banking Principles for Sri Lanka”.

In this context, PROPARCO and its German, Austrian and Dutch counterparts, DEG, OeEB and FMO, in partnership with SLBA, launched a joint initiative in order to operationalize these principles and strengthen the capacities of financial institutions (FIs) on environmental and social (E&S) subjects. The aim is to:

• Raise the awareness of the teams of FIs and train them in the E&S issues and risks, as well as in their management,
• Train a network of consultants to allow FIs to have access to a network of skills and contacts with local E&S experts,
• Create dynamics on these subjects within the community of FIs in Sri Lanka. 

The project will contribute to improving environmental and social (E&S) practices in financial institutions (FIs), in line with international standards. It will also build the capacities of the staff of FIs thanks to the training given to credit analysts, risk analysts, managers and E&S analysts, i.e. some 80 people, as well as the training of a network of local experts. Thanks to the catalytic role of the E&S good practices of FIs in Sri Lanka’s economic base, the project will also contribute to improving the local economy.