HNB and IFC Partner to Advance Supply Chain Finance and Strengthen Risk Management

Newswire reports that Hatton National Bank PLC (HNB) and the International Finance Corporation (IFC), a World Bank Group member focused on the private sector, announced a partnership to expand supply-chain finance in Sri Lanka and strengthen HNB’s risk-management and responsible-finance frameworks. The report describes the announcement as made that day but gives no calendar date.

Newswire says the work will bring together HNB’s relationships with corporate clients and small and medium-sized enterprises across Sri Lanka with IFC’s international experience in supply-chain finance and financial-sector advice. IFC is to help HNB create scalable financing options linking corporate clients with suppliers and distributors.

Newswire reports that the programme is intended to ease working-capital constraints for SMEs in those business networks, improve their competitiveness and support more resilient and inclusive businesses, with particular attention to financing for women-owned businesses.

Newswire says IFC will also compare HNB’s responsible-finance and risk-management practices with international benchmarks, then recommend changes relating to frameworks, analytics, governance and processes. HNB managing director and chief executive Damith Pallewatte said the partnership aligns with the bank’s aim to build a more connected and inclusive financing system, and described the planned solutions as addressing the commercial relationships and value chains through which businesses operate.