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.

Photo Caption - Officials from SDB Bank and USAID during the signing of the MOU