Saturday Mar 28, 2026
Saturday Mar 28, 2026
Friday, 27 March 2026 05:22 - - {{hitsCtrl.values.hits}}
The Global Green Growth Institute (GGGI) has said that is continuing to strengthen Sri Lanka’s sustainable finance ecosystem through technical support to financial institutions issuing thematic bonds.
Through its Global Trust Fund on Sustainable Finance Instruments (GTF), funded by the Government of the Grand Duchy of Luxembourg, GGGI has been working across Latin America, Africa, and Asia to support Governments and private sector issuers in developing sustainable finance frameworks, strengthening the capacity of market participants, advancing knowledge sharing, and providing technical assistance for thematic bond issuances, with a focus on mobilising finance toward national climate and sustainable development priorities.
In Sri Lanka, GGGI has provided thematic bond support to leading financial institutions including Commercial Bank of Ceylon, DFCC, and National Development Bank PLC (NDB), helping to advance the country’s domestic market for green, blue, social, sustainability, and other labeled bond instruments. This support has included technical assistance for sustainable financing framework development, alignment with international market principles, and broader transaction preparation to help issuers access capital for climate and sustainable development priorities.
Most recently, NDB successfully raised Rs. 16 billion through its inaugural Basel III-compliant Tier II GSS+ Bond issuance, now recognised as Sri Lanka’s largest Basel III-compliant thematic bond issuance to date.
Opened on 10 March 2026 and oversubscribed within the same day, the issuance reflects strong investor confidence in thematic finance instruments in Sri Lanka. The proceeds will finance eligible Green (including Blue), Social, Sustainability, and Sustainability-Linked projects, building on NDB’s longstanding commitment to responsible banking and its established Environmental and Social Management System.
Under its collaboration with NDB through GGGI’s Global Trust Fund, GGGI provided technical assistance to develop the Bank’s GSS+ Bond Framework, aligned with relevant ICMA principles and the Sri Lanka Green Finance Taxonomy, including the framework’s eligibility criteria, governance arrangements, project evaluation processes, and post-issuance reporting mechanisms.
Together, these efforts reflect GGGI’s continued commitment to supporting Sri Lanka’s sustainable finance ecosystem, strengthening issuer capacity, and helping mobilise capital toward the country’s climate and development goals.
