EMGA closes senior debt facility with Swedfund support
Emerging Markets Global Advisory LLP has closed a USD 15 million senior debt facility for Citizens Development Business Finance PLC in Sri Lanka. EMGA announced the transaction in London on June 29, 2026.
The facility will help CDB expand finance for SMEs and grow its green portfolio. Swedfund, Sweden’s development finance institution, worked with EMGA on the deal.
Citizens Development Business Finance PLC is a non-bank financial institution in Sri Lanka. CDB is listed on the Colombo Stock Exchange and focuses on sustainable finance, digital innovation and SME lending.
According to EMGA, the funding strengthens CDB’s capital base and broadens its funding sources. Jeremy Dobson, EMGA head of operations and managing director, linked the deal to improving conditions in Sri Lanka after several difficult years.
Swedfund and CDB backing
CDB managing director and chief executive Mahesh Nanayakkara said: “This financing strengthens our ability to empower SMEs and accelerate our green initiatives, ensuring that CDB continues to play a leading role in shaping Sri Lanka’s sustainable financial future.”
Swedfund’s role also fits its wider work across emerging markets. The organisation is wholly owned by the Swedish government and aims to reduce poverty and promote sustainable economic development.
Swedfund provides long-term financing through equity, loans and technical assistance. It mainly backs financial institutions, energy projects and sustainable enterprises, with a strong focus on ESG standards.
EMGA head of investment banking and managing director Sajeev Chakkalakal said: “We are pleased to close this latest transaction and ensure CDB’s continued vision of supporting SMEs and its green portfolio in Sri Lanka, while simultaneously helping expand Swedfund’s ongoing operations in the region.”
Björn Areskog, investment director at Swedfund, said the institution invests to improve access to capital for MSMEs. He said that can help businesses grow, create local jobs, add tax revenue and widen affordable access to products and services.
Meanwhile, EMGA operates from offices in London and New York. The advisory firm helps financial institutions and corporates raise new debt or equity capital.
EMGA said its multinational team brings decades of transaction experience to clients. In this case, that work delivered fresh senior debt funding for a Sri Lankan lender focused on SMEs and sustainable finance.
