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IFC PARTNERS NDB BANK TO EXPAND RENEWABLE ENERGY PROJECT FINANCING IN SRI LANKA
IFC, a member of the Word Bank Group, will share NDB Bank’s risks to help finance a larger quantum of renewable energy projects, including mini-hydro and wind power projects in Sri Lanka.
IFC is extending a $12.5 million risk-sharing facility to NDB Bank to support the country’s power-generation capacity while addressing climate change. The project is expected to produce economic benefits for local project developers, including small and medium enterprises. The initiative is part of IFC’s strategy to help the private sector mitigate climate change impacts while continuing to meet significant infrastructure gaps in South Asia.
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NDB BANK DONATES BOOKS TO THE JAFFNA LIBRARY
Jaffna was a cultural and literary stronghold and a city of great cultural and traditional values. Great scholars came forth from Jaffna, and the Jaffna library was a significant symbol of this literary greatness.
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NDB BANK, EMPOWERS THE DEVELOPING SME SECTOR IN JAFFNA.
Over the years, small and medium scale financing has been an integral component of NDB Bank’s portfolio. It is a proven tool for enabling up-and-coming entrepreneurs to gain financial stability while changing their lives positively. The Bank believes in making positive change in Sri Lankan lives, by providing entrepreneurs with knowledge, and capital to develop businesses and grow the local economy.
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NDB BANK SUSTAINS GROWTH
The NDB Group’s operating profits for the quarter ended 31 March 2010 grew significantly by 60% over the fourth quarter of 2009. The financial conglomerate’s improved performance further substantiates the stability of the NDB Group.
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NDB Bank donates tool kits and sewing machines to empower people in the North and East
NDB Bank, together with the Vocational Training Authority of Sri Lanka (VTA) has taken steps to assist those affected by the armed conflict that ended last year, in the North and Eastern regions of Sri Lanka.
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