Sri Lanka : Mobilizing Finance for Sri Lanka

Sovereign Project | 49426-001

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

  • Project Officer
    Donald Lambert
    South Asia Department
    Request for information
  • Country/Economy
    Sri Lanka
  • Modality
  • Sector
    • Finance
Project Name
Mobilizing Finance for Sri Lanka
Project Number
Country / Economy
  • Sri Lanka
Project Status
Project Type / Modality of Assistance
  • Technical Assistance
Source of Funding / Amount
TA 9102-SRI: Mobilizing Finance for Sri Lanka
Source Amount
Financial Sector Development Partnership Special Fund US$ 500,000.00
Strategic Agendas
  • Inclusive economic growth
Drivers of Change
  • Private sector development
Sector / Subsector
  • Finance / Finance sector development

No gender elements
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.

Foreign investment and investment by individuals increased

Project Outcome

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

Summary of Environmental and Social Aspects

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

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 qualitycost 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).
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
Ministry of Plantation


Concept Clearance
02 Feb 2016
Fact Finding
22 Apr 2016
Last Review Mission
Last PDS Update
10 Sep 2018


TA 9102-SRI

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
ADB Cofinancing Counterpart Total
Gov Beneficiaries Project Sponsor Others
500,000.00 0.00 10,000.00 0.00 0.00 0.00 510,000.00
Cumulative Disbursements
Date Amount
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.

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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.

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No tenders for this project were found.

Contracts Awarded

Contract Title Approval Number Contract Date Contractor | Address Executing Agency Total Contract Amount (US$) Contract Amount Financed by ADB (US$)
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.