Six Participating Credit Institutions (PCIs) comprising two licensed specialised banks, three commercial banks, one leasing company, and one finance company presently participate in the RERED Project. Each PCI is assessed on its ability to meet the eligibility criteria for participating in the RERED Project. PCIs bear the responsibility for the appraisal and follow-up of sub-projects and assume the credit risk on the sub-loans granted. They are also responsible for repaying the refinance received on sub-loans to Government according to the agreed amortisation schedule, regardless of whether the PCIs receive repayment from their sub-borrowers (investment enterprises) to whom sub-loans were made.

The PCIs ensure that sub-projects (investment projects) meet GOSL and IDA-mandated environmental and social safeguards. In addition, PCIs are responsible for ensuring that procurements made by sub-borrowers comply with World Bank guidelines and that financing provided (including GEF grants, if any) is applied fully and exclusively for eligible expenditures of the sub-projects.

The terms of the sub-loan including interest rate, debt:equity ratio, tenure, grace period and security are determined by PCIs in agreement with their clients.

Participating Credit Institutions:   Alliance Finance Co Ltd   Alliance House   84, Ward Place, Colombo 7.   Tel: +94 11 2673673   Fax: +94 11 2697205   Email: info@alliancefinance.lk   Contact Person:   General Manager – Operations   Commercial Bank of Ceylon Ltd   21, Bristol Street, Colombo 1.   Tel: +94 11 2430420, 2336700,   2445010-15, 2328193-5   Fax: . +94 11 2449889, 2347716   Email: Naveen.Sooriyarachchi@combank.net   Web: www.combank.lk   Contact Person:   Grid Connected Projects - Account Manager   (Corporate Finance)   Off Grid Projects - Senior Manager (Development   Credit)   DFCC Bank   73/5, Galle Road, Colombo 3.   Tel: +94 11 2442442   Fax: +94 11 2440376   Email: info@dfccbank.com   Web: www.dfccbank.com   Contact Person:   Grid Connected Projects - Vice President   (Corporate Banking - 1)   Off Grid Projects - Asst. Vice President   (Credit - Nawala Branch)   Hatton National Bank   Level 17, HNB Towers 479, T B Jayah   Mawatha,   Colombo 10.   Tel: +94 11 2661763-5, 2661739   Fax: +94 11 2662741   Email: developb@hnb.lk   Web: www.hnb.lk   Contact Person:   Manager (Project Finance)   National Development Bank   40, Navam Mawatha, Colombo 2.   Tel: +94 11 2448448   Fax: +94 11 2440262   Email: contact@ndbbank.com   Web: www.ndbbank.com   Contact Person:   Assistant Vice President - Corporate Banking   Sampath Bank   Sampath Centre,   110, Sir James Peiris Mawatha, Colombo 2.   Tel: +94 11 5331441   Fax: +94 11 5331484   Email: DB.mgr@credit.sampath.lk   Web: www.sampath.lk   Contact Person:   Manager (Development Banking)

TOP