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)