SDB Bank Partners with SARP to Boost Rural Agribusiness 📈

SDB bank has signed an MoU with the Smallholder Agribusiness and Resilience Project (SARP) to provide affordable credit to rural households, focusing on climate-vulnerable regions. • Project Scope & Funding: SARP is a six-year, US$ 82 Mn initiative (2022–2027) funded by the International Fund for Agricultural Development (IFAD), the Government of Sri Lanka, and other stakeholders. • Target Regions: The project covers districts including Anuradhapura, Puttalam, Kurunegala, Matale, Vavuniya, and Mannar, specifically targeting the Malwathu Oya, Mee Oya, and Deduru Oya river basins. • Financial Support: Under IFAD guidelines, 45% of project costs are provided as grants, while beneficiaries must provide 55% as equity. SDB bank will bridge this funding gap by offering credit facilities to smallholder agribusinesses. • Implementation: Financing will be channeled through the bank’s SME and Cooperative segments, utilizing the bank’s own resources and existing credit lines to ensure structured lending. • Economic Impact: This partnership aims to strengthen financial inclusion and rural entrepreneurship within the agriculture sector, enhancing the climate resilience and market participation of farming communities. Based on provisional project data.