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Summary of Proposed Investment

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors’ consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC’s activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only.

Project number 28662
Sri Lanka (IDA)
Sector1Renewable through Financial Intermediaries - Renewable Energy Generation
Environmental categoryFI
Date SPI disclosedAugust 21, 2009
Projected board dateSeptember 30, 2009
Date revised SPI disclosedAugust 24, 2009
Previous EventsSigned: June 23, 2010
Approved: January 5, 2010
  Overview     Sponsor/Cost/Location     Development Impact     Contacts     Attachments  

Project description

The project supports the CES managed PADGO (Portfolio Approach to Distributed Generation Opportunities) project with a risk sharing facility (RSF) to assist local banks increase their exposures to renewable energy (RE) projects. PADGO’s objective is to improve access to cleaner and more reliable sources of energy for underserved populations and is currently piloted in Sri Lanka. The project would help National Development Bank PLC (NDB or the Bank) to:

- free up capital for funding new RE projects, and
- consider loans for RE projects involving technologies new to Sri Lanka (including wind projects).

In addition to the investment project, there is intended to be a comprehensive technical assistance program to support the objectives of the project, which will be focused on the RE sector and participating financial institutions.

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