IFC proposes to extend $50m loan to Sri Lanka's Commercial Bank of Ceylon

An air force officer holds Sri Lanka's national flag as the sun sets at Galle Face Green in Colombo February 2, 2013. REUTERS/Dinuka Liyanawatte

The International Finance Corporation (IFC), a member of the World Bank Group, is considering a loan of up to $50 million to Sri Lanka’s Commercial Bank of Ceylon (CBC), according to a disclosure.

The proposed investment in the third-largest bank in the island nation is for a tenure of one-year but renewable up to a total of two years.

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