41932-014: People's Leasing Company Limited (PLC)

Project Data Sheet (PDS): Overview


Description

The ADB assistance consists of direct loans of a $10 million to People's Leasing Company Limited (PLC). The loan is expected to strengthen the leasing industry and expand the funding resources and financial services available to the SME sector in Sri Lanka. The activity of leasing companies in Sri Lanka is constrained by the need to borrow at short maturity to fund a business that lends at a longer maturity. The underdeveloped nature of corporate debt market in Sri Lanka has made non-bank leasing firms heavily dependent on commercial banks for their funding through short-term borrowings and commercial paper. This has resulted in maturity mismatches in asset and liabilities and higher cost of funds for these institutions Read More

Country Sri Lanka
Borrower/Equity Investment Name
Project Number 41932-014
Project Type or Modality of Assistance PS
Financing Private sector (Nonsovereign)
Status Approved
Approval Number 7269/2369
Approval Date 23 Nov 2007
Geographical Location Colombo
Sector / Subsector Classification Finance
/ Small and Medium Enterprise Finance and Leasing
Thematic Classification Economic growth
Private sector development
Safeguard Categories Environment: FI
Resettlement: C
Indigenous People: C

Results Delivered

Small and medium-sized enterprise loan accounts opened or end borrowers reached (number) 1,477

The results data reported above are limited to ADB's core sectors, as defined under Strategy 2020 and tracked through indicators in the ADB Results Framework. For definitions of results indicators, please see the ADB Results Framework Indicators Definition.

 

 

Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.

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Project Data Sheets (PDS)

Responsible ADB Officer
Monisha A. Hermans
Email contact

Responsible ADB Department
South Asia Department

Responsible ADB Divisions
Governance, Finance and Trade Division, SARD

PDS Creation Date
08 Oct 2008

Last PDS Update
16 Apr 2009

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