Alliance Finance secures US$ 10mn FMO funding line

Alliance Finance Co PLC (AFC) has renewed its partnership with FMO, the Dutch Entrepreneurial Development Bank, by receiving a fresh funding line of US$ 10 million in June 2021 to financially empower and facilitate the development of the micro, small and medium enterprise (MSME) sector in Sri Lanka. 

The AFC – FMO partnership began in 2018 and AFC was successful in obtaining US$ 10 million, which enabled AFC to finance over 15,000 MSME entrepreneurs in building up their livelihoods. 

In addition to FMO, AFC also has partnerships with reputed institutions such as Triodos, Symbiotics, DWM and IFC, and has successfully raised over US$ 40 million to-date.    

AFC’s sustainable business philosophy focused on sustainable development was the key to attracting these development finance institutions and impact investors. 

 Commenting on this important milestone, Romani De Silva, Deputy Chairman and Managing Director of AFC stated, “This is a reflection of the confidence that FMO has in the business philosophy of our company and our commitment to sustainable development. 

It is also an indication of FMO’s commitment to supporting rural communities in Sri Lanka during these tough and challenging times amidst the Covid-19 pandemic. We are very grateful to FMO for coming forward to assist our MSME customers who need our support now more 
than ever”.