SDB bank and USAID in a Landmark Partnership to Drive Climate Adaptation in Sri Lanka

SDB bank, a recognized leader in ESG sustainability within Sri Lanka’s banking sector, proudly announces its milestone partnership with the U.S. Agency for International Development (USAID) to implement the USAID Climate Adaptation Project in Sri Lanka. This collaboration underscores SDB bank’s commitment to fostering climate resilience and sustainable growth in the country. 

USAID, in conjunction with its prime contractor for the Climate Adaptation Project, Tetra Tech ARD, aims to bolster the capabilities of the private sector, civil society, and government to effectively respond to and adapt to climate change. The project is dedicated to promoting sustained, inclusive, market-based growth by focusing on three key economic sectors: agriculture, fisheries, and tourism. 

SDB bank’s collaboration with USAID will facilitate the mobilization of finance and resources to adopt and scale climate adaptation interventions, significantly contributing to climate resilience. Leveraging its extensive network of clients, particularly in the SME and agriculture sectors, along with the expertise of its internal workforce, SDB bank is poised to play a pivotal role in the execution of this transformative project. 

The collaboration between SDB bank and USAID for the Climate Adaptation Project in Sri Lanka focuses on three primary objectives: Identifying and scaling up innovative solutions to climate-related challenges, strengthening governance to address climate-related risks, improving access to high-quality information for decision-making to reduce vulnerability to climate change. 

USAID will work closely with SDB bank to enhance the capacity of internal employees and selected clients on climate adaptation and risk mitigation, enabling small businesses and agricultural activities to thrive under climate-resilient practices. This partnership will also foster the development of financial products tailored to the climate adaptation needs of pre-determined agricultural value chains and market feasibility.

Through this initiative, SDB bank reaffirms its dedication to environmental stewardship and sustainable development, setting a benchmark for the banking sector in Sri Lanka. This collaboration marks a significant milestone in the journey towards achieving a climate-resilient future for the nation.

About SDB bank:

A future-ready bank, dedicated to offering customer-centric and comprehensive support tailored to each individual's needs, SDB bank is a licensed specialized bank regulated by the Central Bank of Sri Lanka, with a listing on the Main Board of the Colombo Stock Exchange and a Fitch Rating of BB +(lka). Through the network of 94 branches island wide, the bank provides a comprehensive range of financial services to its Retail, SME, Co-operative, and Business Banking clients across the country. Environmental, Social, and Governance (ESG) principles are deeply ingrained in SDB Bank's ethos, with a steadfast focus on uplifting local communities and businesses through sustainable practices. The bank is particularly committed to promoting women's empowerment, sustainable development of SMEs, and digital inclusion, aiming to propel Sri Lanka to new heights.

About USAID:

The United States Agency for International Development (USAID) is the world's premier international development agency and a catalytic actor driving development results. USAID works to improve global stability and economic growth, reduce poverty, and advance democratic governance. Through initiatives like the Climate Adaptation Project, USAID builds the capacity of the private sector, civil society, and government to respond and adapt to climate change, fostering sustained, inclusive, market-based growth.