Emerging Markets Global Advisory (EMGA) closed a $15 million senior debt facility for Citizens Development Business Finance (CDB).
The facility was arranged in collaboration with Swedfund, Sweden’s development finance institution, which plays a pivotal role in promoting sustainable economic development across emerging markets.
“This financing strengthens our ability to empower SMEs and accelerate our green initiatives, ensuring that CDB continues to play a leading role in shaping Sri Lanka’s sustainable financial future,” Mahesh Nanayakkara, MD/CEO of CDB, said.
Sajeev Chakkalakal, head of investment banking and managing director at EMGA, added, “We are pleased to close this latest transaction and ensure CDB’s continued vision of supporting SMEs and its green portfolio in Sri Lanka, while simultaneously helping expand Swedfund’s ongoing operations in the region.”
Jeremy Dobson, head of operations and managing director at EMGA, noted, “Following several challenging years for Sri Lanka, EMGA has moved swiftly to capitalize on improving local conditions, strengthening CDB’s funding base and diversifying its sources of capital.”
Björn Areskog, investment director at Swedfund, said, “We invest to increase access to capital to support the ability of MSMEs to grow, create more local jobs, add tax revenues and increase affordable access to products and services.”
