DFCC Bank set to launch Sri Lanka's first blue bond

DFCC Bank 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.

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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 proposed blue bond carries an expected rating of 'A(EXP)(lka)' from Fitch Ratings and offers maturities of three, four and five years. The 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.