Colombo: Emerging Markets Global Advisory LLP (EMGA) has successfully closed a $15 million senior debt facility for Citizens Development Business Finance PLC (CDB), marking a significant step in bolstering Sri Lanka's financial sector and fostering sustainable growth.

According to BERNAMA News Agency, this transaction highlights EMGA's ongoing commitment to Sri Lanka, while aiding CDB's mission to broaden financial access for small and medium enterprises (SMEs) and enhance its green investment portfolio. The facility was arranged in partnership with Swedfund, Sweden's development finance institution, which is instrumental in promoting sustainable economic development in emerging markets.

Sajeev Chakkalakal, EMGA's Head of Investment Banking and Managing Director, emphasized that the transaction aligns with CDB's growth strategy and extends Swedfund's influence in the region. Concurrently, Mahesh Nanayakkara, CDB's Managing Director and Chief Executive Officer, noted that the financing fortifies the company's capability to empower SMEs and propel green initiatives, ensuring CDB's continued leadership in Sri Lanka's sustainable financial development.

CDB is a non-bank financial institution listed on the Colombo Stock Exchange, dedicated to SME financing and sustainable finance initiatives. EMGA, with offices in London and New York, provides advisory services to financial institutions and corporations on debt and equity capital raising in emerging markets.