DFCC Bank to launch Sri Lanka’s First Blue Bond
View(s):DFCC Bank has announced plans to issue Sri Lanka’s first-ever Blue Bond, targeting Rs. 3 billion to finance ocean, marine, and water-related investments across the country. Supported by the provision of technical assistance from the Global Green Growth Institute (GGGI) on the development of its Sustainable Bond Framework and through the provision of capacity building, this planned issuance marks a significant milestone in aligning Sri Lanka’s financial markets with global sustainability goals, particularly in marine conservation and coastal resilience, the bank said in a media release.
The proposed Blue Bond carries an expected rating of ‘A(EXP)(lka)’ from Fitch Ratings and offers maturities of three, four, and five years. Proceeds are expected to be channelled into eligible projects such as clean drinking water infrastructure, sustainable fisheries and aquaculture, marine and coastal pollution control, eco-friendly marine tourism, climate adaptation for coastal communities, clean marine transportation, and marine renewable energy.
DFCC Bank received support by GGGI to evolve its Green Bond Framework into a comprehensive Sustainable Bond Framework (SBF), aligned with the International Capital Market Association’s (ICMA) Green, Social, and Sustainability Bond Principles. In addition, GGGI conducted capacity building and awareness programmes for DFCC Bank staff, introducing the principles of blue bonds and training teams on the enhanced framework. The technical assistance was provided through GGGI’s Global Trust Fund on Sustainable Finance Instruments (GTF), funded by the Government of the Grand Duchy of Luxembourg, which supports developing countries in building robust green and social finance ecosystems through policy development, institutional capacity building, and technical expertise across the full lifecycle of thematic bond issuances.
Thimal Perera, Chief Executive Officer of DFCC Bank, said, “The Blue Bond represents a decisive step in Sri Lanka’s sustainable finance journey, channelling private capital towards sectors that protect lives, livelihoods, and the environment. At DFCC Bank, we view sustainability as a national responsibility. We are happy to advance financial innovation that can drive transformative change for Sri Lanka and the communities we serve.”
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