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Saturday October 1st, 2022

Sri Lanka’s Alliance Finance gets second tranche of Dutch dollar credit

ECONOMYNEXT – Sri Lanka’s Alliance Finance Company (AFC) said it had received the second 5 million dollar tranche of a 10 million dollar credit line from the Dutch development financing agency FMO for micro and small business lending.

The first tranche had come in July 01, 2021.

“The facility is for 5 years with a fixed interest rate, thereby helping AFC to manage its asset and liability mismatch in the balance sheet,” Romani de Silva, Deputy Chairman and Managing Director said in a statement.

The funds will be on-lent to micro, small and medium enterprises (MSMEs).

De Silva said the FMO loan showed that the company maintained international credibility.

FMO had first financed the company in 2018. (Colombo/Dec26/2021)

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