Sri Lanka: Mobilizing Finance for Sri Lanka
The CDTA will study how to catalyze venture capital funding for Sri Lankan SMEs and how to mobilize offshore debt financing for tea producers.
Project Details
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Project Officer
Donald Lambert
South Asia Department
Request for information -
Country/Economy
Sri Lanka -
Modality
- Technical Assistance
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Sector
- Finance
Project Name | Mobilizing Finance for Sri Lanka | ||||
Project Number | 49426-001 | ||||
Country / Economy | Sri Lanka |
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Project Status | Closed | ||||
Project Type / Modality of Assistance | Technical Assistance |
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Source of Funding / Amount |
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Strategic Agendas | Inclusive economic growth |
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Drivers of Change | Private sector development |
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Sector / Subsector | Finance / Finance sector development |
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Gender Equity and Mainstreaming | No gender elements | ||||
Description | The CDTA will study how to catalyze venture capital funding for Sri Lankan SMEs and how to mobilize offshore debt financing for tea producers. | ||||
Project Rationale and Linkage to Country/Regional Strategy | The TA is aligned with ADB's Interim CPS for Sri Lanka 2015-2016, which includes _Catalyzing Private Investment and Enhancing the Effectiveness of Public Investment_ as one of its three pillars. The intended bond issuances provide an alternate source of financing that can be replicated by other issuers. | ||||
Impact | Foreign investment and investment by individuals increased |
Project Outcome | |
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Description of Outcome | Ability of RPCs and SMEs to access private investment from capital markets strengthened |
Progress Toward Outcome | A capital expenditure financing project to modernize and improve the productivity of the tea sector, benefitting stakeholders including tea smallholders and RPCs, is expected to be processed in 2019. |
Implementation Progress | |
Description of Project Outputs | Study on the feasibility of tea bonds completed Due diligence for the operationalization of an SME venture capital fund to increase SMEs' access to equity capital undertaken Knowledge building activities undertaken |
Status of Implementation Progress (Outputs, Activities, and Issues) | A report and seminar on structuring government support for venture capital to SMEs was completed in 2017. A seminar on developing a financing strategy for the tea sector was held on 4 September 2018. A report is expected by end-September 2018. |
Geographical Location | Nation-wide |
Summary of Environmental and Social Aspects | |
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Environmental Aspects | |
Involuntary Resettlement | |
Indigenous Peoples | |
Stakeholder Communication, Participation, and Consultation | |
During Project Design | |
During Project Implementation | Seminars were held in 2017 and in September 2018 for both parts of the TA. A final report was completed on structuring government support for venture capital and a report on mobilizing finance for the tea sector is expected by end-September 2018. |
Business Opportunities | |
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Consulting Services | The TA will require 9 person-months of international consulting services and 9 person-months of national consulting services. A consulting firm will be engaged by ADB in accordance with ADB's Guidelines on the Use of Consultants (2013, as amended from time to time). Due to the highly specialized expertise needed, an international consulting firm in association with national consultants will be selected and engaged by ADB using the quality- and cost-based selection method with a quality cost weighting of 90:10. An output-based (lump-sum) contract will be used. The outline terms of reference for the consultants are in Appendix 3. All the disbursements under the TA will be made in accordance with ADB's Technical Assistance Disbursement Handbook (2010, as amended from time to time). Procurement will be carried out in accordance with ADB's Procurement Guidelines (2015, as amended from time to time). |
Procurement | None envisaged at this stage. |
Responsible ADB Officer | Donald Lambert |
Responsible ADB Department | South Asia Department |
Responsible ADB Division | Public Management, Financial Sector and Trade Division, SARD |
Executing Agencies |
Department of Development Finance 1st Floor, The Secretariat, Colombo 01, Sri Lanka Ministry of Plantation 11th Floor, Sethsiripaya, 2nd Stage, Battaramulla Sri Lanka |
Timetable | |
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Concept Clearance | 02 Feb 2016 |
Fact Finding | - |
MRM | - |
Approval | 22 Apr 2016 |
Last Review Mission | - |
Last PDS Update | 10 Sep 2018 |
TA 9102-SRI
Milestones | |||||
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Approval | Signing Date | Effectivity Date | Closing | ||
Original | Revised | Actual | |||
22 Apr 2016 | 31 May 2016 | 31 May 2016 | 31 Mar 2017 | 30 Sep 2018 | 18 Oct 2018 |
Financing Plan/TA Utilization | Cumulative Disbursements | |||||||
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ADB | Cofinancing | Counterpart | Total | Date | Amount | |||
Gov | Beneficiaries | Project Sponsor | Others | |||||
500,000.00 | 0.00 | 10,000.00 | 0.00 | 0.00 | 0.00 | 510,000.00 | 17 Jun 2022 | 423,594.10 |
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.
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Title | Document Type | Document Date |
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Mobilizing Finance for Sri Lanka: Technical Assistance Completion Report | TA Completion Reports | Sep 2019 |
Mobilizing Finance for Sri Lanka: York Street Partners Final Report on Catalyzing SME Venture Capital | Consultants' Reports | Mar 2017 |
Mobilizing Finance for Sri Lanka: Fiscal Impact Analysis | Consultants' Reports | Mar 2017 |
Mobilizing Finance for Sri Lanka: York Street Partners Seminar Notes | Consultants' Reports | Feb 2017 |
Mobilizing Finance for Sri Lanka: Technical Assistance Report | Technical Assistance Reports | Apr 2016 |
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.
Related Publications
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.
Tenders
No tenders for this project were found.
Contracts Awarded
Contract Title | Approval Number | Contract Date | Contractor | Address | Executing Agency | Total Contract Amount (US$) | Contract Amount Financed by ADB (US$) |
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Capacity Development | Technical Assistance 9102 | 11 Oct 2016 | York Street Partners (Pvt) Ltd. (Sri Lanka) in Association with D. Capital Partners Limited (United Kingdom) | 116 HAVELOCK ROAD COLOMBO 05, CENTRAL PROVINCE SRI LANKA | Ministry of Plantation Industries (MPI) | 454,696.00 | — |
Procurement Plan
None currently available.