DFCC Bank, first SL entity of Green Climate Fund

DFCC Bank, the Bank for Everyone, is proud to announce its accreditation by the Green Climate Fund (GCF), making it the first Sri Lankan entity to achieve this significant milestone. This accreditation empowers DFCC Bank to access concessionary funding for projects with a value of up to USD 250 million from the GCF, enabling the financing of climate mitigation and adaptation projects across Sri Lanka. Having undergone the rigorous process to secure GCF accreditation, DFCC Bank has joined the ranks of 118 respected institutions worldwide that are at the forefront of combating climate change and building a sustainable future. With DFCC Bank now joining this esteemed group, it reinforces the Bank’s reputation as a leading player in sustainable finance.

The GCF, established in 2010 by 194 countries under the United Nations Framework Convention on Climate Change (UNFCCC), is dedicated to supporting developing nations in their efforts to address the challenges of climate change. The fund focuses on mitigating greenhouse gas emissions and enhancing climate resilience while prioritising the needs of countries most vulnerable to climate change impacts. The 118 institutions to have achieved GCF accreditation represent a diverse range of international, regional, and national entities committed to driving climate action.

Discussing this significant milestone that puts Sri Lanka on the map, J. Durairatnam, Chairman at DFCC Bank said, “We are honoured to become the first Sri Lankan entity to be accredited by the Green Climate Fund. This achievement is a testament to DFCC Bank’s commitment to sustainability, guided by our sustainability strategy and vision of creating a resilient world for everyone. We are excited to leverage this accreditation to mobilise climate finance and spearhead impactful projects that address the urgent climate challenges facing Sri Lanka.”

“Sri Lanka is facing rising temperatures and extreme weather events attributable to climate change. As the world’s largest climate fund dedicated to helping developing countries take climate action, GCF is pleased to welcome DFCC Bank as a Direct Access Entity, the first in Sri Lanka. We look forward to a fruitful and long-term partnership to ensure a low emission and climate resilient future for people across the nation” said by Henry Gonzalez, Executive Director a.i.Green Climate Fund.