Global Steering Group for Impact Investment sets footprint in Sri Lanka

The Global Steering Group for Impact Investment (GSG) has chosen Sri Lanka as a pioneer for impact investments. Starting May 3, 2023, the Sri Lankan National Advisory Board (NAB) for Impact Investments has been established to facilitate the inflow of global impact capital and sustainability finance to Sri Lanka.
While impact investments and sustainable financing are relatively new concepts in Sri Lanka, developed economies have been prioritising them for the past 25 years. The founding of the NAB in Sri Lanka as a GSG network partner opens doors for local entrepreneurs and visionary investors to participate in impactful business ventures. These initiatives yield financial gains and multiple benefits for the country’s people and environment. 
The GSG is a registered UK charity since November 2017 and has 36 member countries. Led by Sir Ronald Cohen as Chairperson, it brings together leaders from finance, business, and philanthropy to tackle pressing social and environmental issues. 
The NAB plays a crucial role in guiding and supporting global impact investors who will provide impact capital to Sri Lanka. The NAB’s main responsibility in Sri Lanka is to create a favourable environment for impact investments, aligning with the goals of the GSG. The NAB is to be headed by Chandula Abeywickrema, Founder and Chairman of Lanka Impact Investing Network. A highly esteemed senior banker recognised globally for his expertise in financial inclusion, impact investing, and social entrepreneurship, he has been engaging with the GSG team, including Kristina Tora, Cliff Prior, and Sir Ronald Cohen, for the past six years. 
The other members of the NAB consist of diversely experienced and visionary leaders representing various key business sectors. Dr. Lalith Welamadage from Lanka Social Ventures, Sanjay Wijemanne from Hatton National Bank, Prince Perera from DFCC Bank, Romani De Silva from Alliance Finance PLC, Achala Samaradivakara representing the Community of Entrepreneurs, and Dr Nirmal De Silva, an expert in the SME sector, representing Sri Lankan Impact Investors.
GSG’s presence in Sri Lanka creates a supportive ecosystem for impact investing, unlocking new avenues for sustainable development, fostering inclusive growth, and positioning the country as a destination for responsible investments attracting both local and foreign investors.
Some key benefits that Sri Lanka will gain from the arrival of GSG include increased awareness and knowledge about impact investing, access to global expertise, catalysing investment opportunities, fostering socio-economic development, promoting long-term sustainability, and facilitating international collaborations and partnerships. 
Chandula Abeywickrema, Chairman of the NAB, is thrilled about his role in convincing GSG to establish operations in Sri Lanka. He views Sri Lanka’s geography and the on-going transformations from the recent crisis as a favourable opportunity and believes it is the perfect time to initiate new ventures and foster strategic partnerships. He believes that by hosting GSG, Sri Lanka becomes an attractive hub for capital inflow, facilitating impactful investments in sustainable enterprises.