IFC agrees to provide 400 million dollar swap facility to 3 banks in Sri Lanka

Washington-based International Finance Corporation, IFC has agreed to provide 400 million dollar swap facility to three banks in Sri Lanka for trade financing.

Commercial Bank of Ceylon, Sampath Bank and Nations Trust Bank will get the money to help import food, medicine and fertilizers.

IFC’s



cross-currency swap facility will help Sri Lanka to obtain critical forex liquidity, to support the private sector and encourage longer term funding flows to the market.

Sri Lanka has been facing severe forex shortages since 2022 after the central bank printed money for two years.