In a significant move for the financial landscape of Sri Lanka, Assetline Finance Ltd. (AFL) has successfully secured a senior loan from the Japan ASEAN Women Empowerment Fund (JAWEF), managed by the renowned global impact investment firm BlueOrchard Finance Ltd. This milestone marks the first new loan granted to a non-bank financial institution (NBFI) by an international lender in the post-COVID climate, setting AFL apart from numerous rollover facilities that have become commonplace in the region.
This development also highlights AFL’s inaugural venture into international borrowing, underlining the company’s financial resilience and commitment to fostering growth, particularly in empowering women entrepreneurs. As part of its mission, AFL has been instrumental in bridging the economic gap women face, especially in rural areas of Sri Lanka, where access to funding can be a considerable challenge.
One of AFL’s notable initiatives is “Liyadiriya,” a tailored financial product designed specifically for women. This initiative focuses on supporting cottage industries and home-based businesses, allowing women to thrive economically and contribute to their families and communities.
Additionally, AFL has partnered with David Pieris Holdings on the “Deshayata Jawayak” program, which aims to inspire women to navigate their mobility confidently and safely. This program is pivotal in enabling women to balance their diverse roles while opening doors to meaningful opportunities. By doing so, it promotes financial inclusion, stability, and independence, all of which are essential for empowering women in Sri Lanka.
AFL Director and CEO Ashan Nissanka expressed pride in this significant collaboration, stating: “We are proud to engage in a strategic collaboration with BlueOrchard, a leading global impact investment manager. This partnership goes beyond funding—it represents a long-term relationship that focuses on capacity building, knowledge sharing, and impactful financing. Together, we are not only strengthening our mission to empower women entrepreneurs and promote financial inclusion but also fostering sustainable growth for communities across Sri Lanka, thereby actively contributing towards the economic growth of the country.”
Industry experts have lauded this transaction for its multi-faceted significance. Regiis Capital Founding Partner Amarasi Gunasekara remarked, “This transaction is significant in many facets; it is timely as Sri Lanka is in a strong development phase against all odds, it is purposeful as it nurtures the most significant yet understated segment of budding entrepreneurs -women, it reflects the financial resilience and impact commitment of Assetline Finance and above all, it is a classic example of a catalyst with a true development mandate in the heart such as BlueOrchard, to come forward and play the part when it’s needed the most.”
The successful acquisition of this loan not only showcases AFL’s capability to attract international support but also serves as a beacon of hope for aspiring women entrepreneurs in Sri Lanka. With the backing of BlueOrchard, AFL is set to enhance its efforts in promoting financial accessibility for women, further solidifying its role as a leader in driving economic empowerment in the region.
As Sri Lanka navigates through challenging economic conditions, initiatives like those spearheaded by AFL become crucial. They not only uplift individual women but also contribute to the broader economic landscape, fostering resilience and sustainable growth for the country as a whole. This partnership marks the beginning of a transformative journey, aimed at empowering women and nurturing a more inclusive financial ecosystem in Sri Lanka.