The project consists of a loan of up to $100 million for onlending to infrastructure projects.
|Project Name||Proposed Loan to Hatton National Bank for Supporting Infrastructure Development|
|Borrower/Company||HATTON NATIONAL BANK PLC
|Type or Modality of Assistance||
|Strategic Agendas||Inclusive economic growth
|Drivers of Change||Private sector development
|Sector / Subsector||
Finance / Finance sector development - Infrastructure finance and investment funds
|Gender Equity and Mainstreaming||No gender elements|
|Responsible ADB Department||Private Sector Operations Department|
|Responsible ADB Division||Portfolio Management Division, PSOD|
|Responsible ADB Officer||Gunawardhena, Manohari|
|Description||The project consists of a loan of up to $100 million for onlending to infrastructure projects.|
|Objectives and Scope||By working with one of Sri Lanka''s leading private commercial banks and providing long-term debt financing and balance sheet support, ADB has a unique opportunity to promote private sector participation in the Sri Lankan financial sector and to support needed infrastructure development.|
|Linkage to Country/Regional Strategy||The proposed project is directly aligned with the government's development policy framework, which aims to accelerate economic growth, improve access to finance, address inadequate and poor quality of infrastructure as a major constraint to rapid economic growth, and increase the low level of private sector investment. ADB's 2012 to 2016 country partnership strategy for Sri Lanka is built on the government's development policy framework and Strategy 2020, and calls for ADB support for private sector development, including projects that accelerate the pace of private sector participation and promote financial sector development. The project also supports inclusive and sustainable economic growth as outlined in the country partnership strategy, as the project will contribute to these objectives through infrastructure development. It is also consistent with ADB's country operations business plan to catalyze private investment and promote inclusive growth in Sri Lanka and to support financial sector development through ADB's Private Sector Operations Department. ADB has supported the private finance sector since the conflict. It provided a $15 million senior loan to DFCC Vardhana Bank in 2012 to support housing finance and a $15 million senior loan to Nations Trust Bank in 2013 to support SME finance in Sri Lanka. Eight Sri Lankan banks are active in ADB's Trade Finance Program.|
|Summary of Environmental and Social Aspects|
|Stakeholder Communication, Participation, and Consultation||ADB's engagement with HNB will play an important role in developing and supporting HNB's adherence to high corporate governance standards, as well as the adoption of market leading risk management, social, and environmental standards thereby enhancing risk management, environmental, and social responsibility at one of Sri Lanka's largest financial institutions.|
|Timetable for assistance design, processing and implementation|
|Concept Clearance||30 Jun 2014|
|Credit Committee Meeting||06 Nov 2014|
|Approval||04 Dec 2014|
|Last PDS Update||03 Apr 2018|
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.
The Access to Information Policy (AIP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.
The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.
In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.
|Title||Document Type||Document Date|
|Senior Loan to Hatton National Bank for Supporting Infrastructure Development: Extended Annual Review Report||Extended Annual Review Reports||Sep 2018|
|Proposed Loan to Hatton National Bank for Supporting Infrastructure Development: Project Data Sheet (Tamil Translation)||Translated PDS||Jun 2015|
|Proposed Loan to Hatton National Bank for Supporting Infrastructure Development: Project Data Sheet (Sinhala Translation)||Translated PDS||Jun 2015|
|Senior Loan Facility and Technical Assistance for Hatton National Bank: Initial Poverty and Social Analysis||Initial Poverty and Social Analysis||Apr 2015|
|Supporting Infrastructure Development: Report and Recommendation of the President||Reports and Recommendations of the President||Nov 2014|
Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
None currently available.
Evaluation Documents See also: Independent Evaluation
None currently available.
None currently available.
The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.
Requests for information may also be directed to the InfoUnit.
ADB, Hatton National Bank Sign $100 Million Infrastructure LoanADB and Hatton National Bank have signed a $100 million loan agreement which will help expand infrastructure development in the country, including in post-conflict areas.