Ceylon Chamber of Commerce (CCC) chairman Chandra Jayaratne requests director/general manager DFCC Bank Nihal Fonseka for ‘concessionary financing support for generators and power/environment saving investments.’

Jayaratne, in a letter under the above heading, and addressed to Fonseka says:

"We appeal to you, as the leading development financing institution, to make available concessionary financing support for private sector investments in securing self generation capacity for power; the area of cost effective demand management and energy saving and in the area of environmental protection and enhancement.

If concessionary financing is not available through your institution at present we would be grateful if you will kindly develop such a line of credit with support from the Government and multilateral lending agencies.

We appeal to you in the current and emerging context to consider these facilities as a significant support for the development and growth of the national economy. In addition to facilitating the above line of credit it is essential that you facilitate a specialist window for project evaluation and speedy disposal of pending applications.

You consider in the evaluation of the new links of support, as separate facilities (not connected to any facilities already obtained by any highly leverage institutions) with a separate stream of cash flows.

You may protect your rights to this new stream of cash flows via separate ESCROW accounts or separate banking accounts under your control.

We believe that in this time of national crisis owing to a shortage of power that your institution will take a leadership role in supporting industrial and commercial investments already made," he says in conclusion.