IFC Canada to fund clean energy projects in Sri Lanka



IFC, a member of the World Bank and the IFC-Canada Climate Change Program and the Canadian Government plan to help Sri Lankan private sector companies develop their businesses using clean and green renewable energy solutions.

The Sri Lanka – Canada Business Council of the Ceylon Chamber of Commerce organized an interactive session recently.

Canadian High Commission’s Political and Economic Counsellor Jennifer Hart and IFC Senior Investment Officer Priyanka Coorey spoke.

Sri Lanka Canada Business Council President Chandev Abhayaratne stressed the importance financing opportunities for clean energy projects in Sri Lanka and emphasized the contribution of Canadian High Commission and IFC. Hart spoke about Climate Change and Canada’s initiatives in this area. She said the Manitoba Hydro Research Center is providing their expertise to the Government of Sri Lanka to address the issues surrounding the recent electricity blackouts and Canada’s support to Sri Lanka to introduce sustainable sources to its energy mix to meet future energy needs.

Coorey said the IFC leverages the private sector to advance innovative and viable climate solutions for emerging markets by offering project finance for climate-smart projects including debt and equity, with long-term horizon, advisory services and technical assistance for companies to build capacity and help develop markets Green bonds to bolster financing for climate-related investments and blended finance for some high-impact, first-mover climate projects, with support from donors.