Business
ComBank strengthens its green financing mandate with GGGI partnership
The Commercial Bank of Ceylon has signed a milestone agreement with the Seoul-headquartered Global Green Growth Institute (GGGI), a leading international inter-governmental technical advisor on sustainable finance initiatives.
The Memorandum of Understanding (MoU) ratified by the two entities sets the stage for a sustainable finance collaboration programme, and enhances Commercial Bank’s readiness to mobilise green and blue investment opportunities for Sri Lanka’s private sector.
The Director General of GGGI Dr. Frank Rijsberman signed the MoU on behalf of GGGI, while the Managing Director and CEO of the Commercial Bank Sanath Manatunge signed on behalf of the Bank.
This transformative partnership between Commercial Bank and GGGI holds immense promise for accelerating sustainable finance initiatives in Sri Lanka, paving the way for a greener and more resilient economy for generations to come, the Bank said.
According to the GGGI, Commercial Bank continues to show its comitment to expanding its green portfolio through the exploration of thematic bond issuances. Through this partnership, the Bank will gain GGGI’s international technical expertise and support for the creation of a thematic bond framework and strengthen its institutional capacity.
Sri Lanka became GGGI’s 30th member state in 2019. The Institute has a unique in-country presence and plays a prominent role as a neutral, trusted advisor and strategic development partner embedded in Member and Partner governments. GGGI champions climate action and serves in the role of an enabler and facilitator of Members’ transition into a low-carbon green economy, providing policy advice and technical support in the development of green growth plans, policies and regulations, mobilisation of green investments, implementation of green growth projects, and development of local capacities and knowledge sharing.
Sri Lanka was elected as Vice President of the Assembly and Vice Chair of the Council of GGGI in October 2022, and GGGI has an in-country program with key strategic focus areas that include mainstreaming innovative climate finance tools; building resilience and supporting a national adaptation planning and implementation process; establishing energy-efficient and environmentally friendly transport systems; increasing the uptake of green energy and enhancing energy efficiency through an improved enabling environment and bankable projects, and sustainable landscapes.
One of the first banks in Sri Lanka to venture into green financing, Commercial Bank has been adjudged the winner at the Sri Lanka Sustainability Reporting Awards and is a pioneer in sustainability through its innovative green portfolio, while initiating a mandatory social and environmental screening process for its lending activities.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
