Union Bank partners with USAID TO MOBILIZE FINANCE for climate adaptation solutions in agriculture and tourism sectors

Exchanging the MOU with Union Bank Chief People and Transformation Officer Jayantha Amarasinghe, Chief Business Officer Asanka Ranhotty and USAID Climate Adaptation Project Deputy Chief of Party Shanka Dharmapala 

As Sri Lanka emerges from the economic crisis with a focus on national production and export-oriented value chains, businesses are increasingly aware of the opportunities and risks that climate change poses to their operations, market competitiveness, and stakeholder wellbeing. Union Bank, as a fully-fledged commercial bank that is committed to advancing Sri Lanka’s sustainable development, recently entered into a partnership with the United States Agency for International Development (USAID)-supported Climate Adaptation Project in Sri Lanka. This partnership will enhance the bank’s internal capacity to provide financial and non-financial solutions related to climate adaptation for its clients. The bank aims to build its capability to provide climate change advice, especially on climate finance solutions for the agriculture sector relating to food security and the tourism sector, with the technical support provided by the USAID Climate Adaptation Project.