E-Friends II Revolving Fund

Environmentally Friendly Solutions
Fund II - Revolving Fund

E-Friends II - (RF)

E-Friends II - (RF)

  • General Loan component (GL)
  • Technical Assistance Loan component (TAL)

E-Friends II- (RF) GL

Environmentally Friendly Solutions Fund II (E-Friends II) Revolving fund, also known as E-Friends II-RF General Loan, is offered in collaboration with the Ministry of Industry and Commerce to assist industrial enterprises in finding solutions to the environmental problems, such as industrial pollution caused by their manufacturing and energy consumption, and their environment improvement initiatives such as waste minimisation, resource recovery and savings, and pollution control and abatement.

E-Friends II- (RF) TAL

E-Friends II (RF) TAL is designed to provide consultancy services for investigating environmental problems, waste minimisation, resource recovery and savings, pollution control and abatement measures and associated design, supervision of installation and operation of the equipment financed under the fund.

Eligible Sub-borrowers

  • Industrial enterprises, including sole proprietorship, partnership, private limited liability companies and co-operative societies,
  • The investment in fixed assets, excluding land and buildings (owned or leased) at original book value, should not exceed Rs. 250 Mn on completion of the sub-project.
  • Minimum equity contribution of 25%

Key Features of E- Friends II - RF (GLS and TAL)

Key Features General Loan (GL) Technical Assistance Loan (TAL)
Eligible Sub-projects

a) Equipment for end-of-pipe treatment and equipment that will lead to reduced emissions or lower production of wastes by the enterprises, thereby enabling them to comply with the National Environment Standards.

(b) Equipment that leads to a substantial reduction in the use of resources by existing equipment and machinery or the phasing out of hazardous substances.

(c) Equipment that will substantially improve the safety of workplaces, especially concerning the exposure of workers to potentially hazardous substances or noise, etc.

(d) Investments related to the relocation of highly polluting industries to special industrial estates that are equipped with waste treatment plants and investments by enterprises that set up and operate such treatment plants; and

(e) Equipment for the monitoring of pollutants in connection with (a), (b), (c) or (d).

(f) Investments lead to eliminating the use of asbestos, hazardous substances, or CFCs.

 Consultancy Services involving.

  • Investigation of pollution problems.
  • Investigation of waste minimisation measures as an alternative to end-of-pipe pollution control and abatement.
  • Other consultancy services associated with resource recovery and savings, pollution control and abatement, the design, supervision of installation and commissioning of the equipment financed under the E-Friends II (RF) Fund.
Sub Loan Amounts Rs. 30 Mn Rs. 1 Mn
Interest Rate 6.5% p.a. Fixed 2% p.a. Fixed
Debt: Equity 75:25 75:25
Maximum Tenure of the Loan 10 years, including a maximum 2-year grace period 5 years, including a maximum 1-year grace period

Special Conditions

Within 3 months after the release of the loan, the ‘Project Completion Report’ should be prepared and submitted.

** Terms and Conditions Apply

FAQs

01. Am I eligible for the E-Friends II -(RF) facility?

If you are operating an industrial enterprise in Sri Lanka and willing to improve the environment and meet the environmental safety standards with an overall Fixed assets not exceeding Rs. 250Mn (excluding land and building) and should make a minimum 25% equity contribution, you may apply for clearance of the E-Friends II -(RF) facility.

02. What is the maximum loan amount under this loan scheme?

Rs. 30.0 Mn under the General Loan component and Rs. 1.0 Mn under the Technical Assistance component.

03. Do I have to offer collateral?

The Bank may request suitable collateral.

04. What are the required documents?

You will be required to provide any documents requested by the Bank, including the following:

  • Duly filled Loan Application
  • Project Proposal
  • Invoice/Quotation or any other supporting documents as required.
  • Copy of NIC of applicants/the Business Registration Certificate and related documents
  • Financial Statements (Records/Audited/Certified/Management etc.)
  • Valid Environmental Protection Licenses (EPLs) where applicable
  • Any other documents required by the Bank for the approval process.

05. Who should I contact for more information?

Refer to the branch contact details or contact 0112350000.

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