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ADB funding for Lanka bank

Hatton National Bank of Sri Lanka has concluded a landmark agreement with the Asian Development Bank (ADB) to raise $100 million by way of a seven-year senior debt. The funds raised would be used for infrastructure development projects with special emphasis on renewable energy, power and irrigation which are key sectors in the economic resurgence of Sri Lanka. Jonathan Alles, MD and CEO of Hatton National Bank, said Sri Lanka in its journey of reaching upper middle class status will spur growth in corporate and SME investments and the availability of infrastructure would be a key enabler. The bank, he said, as a leading private commercial bank in the country will facilitate these developments through partnering with ADB.

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