Sri Lanka’s NDBIB syndicates $40mn loan for Maldives Airport

Tuesday February 10, 2026 5:43 pm

ECONOMYNEXT – NDB Investment Bank Limited said it syndicated a 5-year 40 million US dollar loan for the Maldives Airport Company Limited with the Sri Lanka based banks leading the deal.

The loan is linked to financing capex for the new passenger terminal at Velana International Airport.

Sri Lanka’s Hatton National Bank Ple was the lead bank and facility agent with Nations Trust Bank PLC and Habib Bank Limited of Maldives being the other lead banks, NDBIB said.

NDBIB Chief Executive Officer, Harshana Jayaweera said the deal was driven by the firm’s syndicated loan expertise, and its deep familiarity with the Maldivian market.

NDBIB has previous advised on the Initial Public Offering of Ooredoo Maldives, the first foreign IPO arranged by a Sri Lankan investment bank, and also Maldives Islamic Bank.

It had also advised on an 18 million dollar revolving credit facility and a 10 million dollar term loan for an energy company.

NDBIB Chief Operating Officer, Kaushini Laksumanage, said MACL had secured the financing amid a challenging market environment for the Maldives, with the support of banks and legal advisors FJ&G De Saram (Sri Lanka) and SHC Law and Tax LLP (Maldives). (Colombo/Jan10/2026)

Tuesday February 10, 2026 7:19 pm

ECONOMYNEXT – Sri Lankan government is considering to connect all government institutions that operate critical information infrastructure to the National Cyber Security Operations Centre (NCSOC), the President’s Media Division (PMD) said.

The move was discussed when the key stakeholders gathered on Tuesday (10) for a special discussion organized jointly by Sri Lanka Computer Emergency Readiness Team (SLCERT) and the Ministry of Digital Economy.

“….this session can be identified as a decisive step toward strengthening the country’s national cyber security framework,” the OMD said in a statement.

“It was emphasized during the discussion that cyber security in the modern world is no longer merely

a technical concern, but a matter of national importance that directly impacts national security, economic stability, and public trust.”

“Policy-level decisions required for this initiative have already been approved through Cabinet decisions, and the second phase, connecting remaining government institutions to the cyber security centre, is scheduled to be implemented by the end of this year.”

It said the priority will be given to critical state institutions, which are also planned to be audited through the National Audit Office.

“The new mechanism is expected to help prevent and manage disruptions to essential services in the face of cyber threats such as defacement of government websites, ransomware attacks, and data breaches.”

Through the NCSOC, government institutions will gain access to real-time threat monitoring, early warning systems, and coordinated incident response capabilities.

“As such, this initiative was described not merely as a compliance exercise, but as an investment in institutional credibility and resilience.” (Colombo/February 10/2026)

Tuesday February 10, 2026 5:36 pm

ECONOMYNEXT –The Sri Lankan government is in the process of changing chairman, board of directors, and top officials in select state institutions, Cabinet Spokesman Nalinda Jayatissa said.

The move comes weeks after Agriculture Minister K.D. Lal Kantha’s statement on “winning the government but not the state,” in a political rhetoric, reflects the Marxist-Leninist ideological roots of the Janatha Vimukthi Peramuna (JVP), the key partner of the ruling NPP coalition.

Traditionally, state-owned enterprise (SOE) boards were often seen as parking lots for defeated politicians, relatives of high-ranking officials, and campaign donors.

This practice, referred to as political patronage, led to bloated workforces, lack of accountability, and strategic mismanagement.

For decades, chairpersons were often appointed directly by the relevant line minister, leading to a patron-client relationship where the SOE’s resources were utilized for the political gain of the ruling party.

The current shift toward a centralized vetting committee is designed to break this cycle, though critics remain watchful to ensure that independent appointees do not eventually align with party-specific agendas.

“We are in the process of discussion on the changes,” Jayatissa, also the Minister of Health and Media, told the weekly post-cabinet media briefing on Tuesday (10) in Colombo.

“In the near future, we will announce the changes.”

The management and governance of SOEs in Sri Lanka have undergone significant shifts under the current NPP administration, which has prioritized “professionalism” and “meritocracy” as a departure from the historical practice of political patronage.

The NPP government has established a specialized committee to appoint heads of state-owned enterprises and statutory bodies, tasked with vetting candidates based on their technical expertise and academic qualifications rather than their political loyalty.

This reform aims to address the chronic inefficiencies and massive financial losses, often totaling hundreds of billions of rupees, that have plagued major SOEs like SriLankan Airlines, the Ceylon Electricity Board (CEB), and the Ceylon Petroleum Corporation (CPC).

However, some of the chairpersons including CEB have resigned citing personal reasons. (Colombo/February 10/2026)

Tuesday February 10, 2026 5:00 pm

ECONOMYNEXT – Sri Lanka’s rupee closed at 309.43/47 to the US dollar in the spot market Tuesday, from 309.43/50 the previous day, dealers said, while bond yields dropped significantly.

A bond maturing on 15.12.2026 closed at 8.18/25 percent, down from 8.20/30 percent.

A bond maturing on 15.03.2028 closed at 8.93/9.00 percent.

A bond maturing on 15.09.2029 closed at 9.46/51 percent, down from 9.47/53 percent.

A bond maturing on 01.03.2030 closed at 9.62/65 percent, down from 9.66/68 percent.

A bond maturing on 01.06.2033 closed at 10.45/50 percent, down from 10.50/54 percent.

A bond maturing on 15.06.2035 closed at 10.72/77 percent, down from 10.77/81 percent.

An auction of 90,000 million rupees Treasury bills is scheduled to take place on Wednesday (11); and an auction of 51,000 million rupees Treasury bonds on Thursday (12). (Colombo/Feb10/2026)

Tuesday February 10, 2026 4:51 pm

ECONOMYNEXT – Sri Lanka and Japan will sign a memorandum of understanding on economic policy dialogue, minister the Nalinda Jayatissa said.

Discussions between the two countries to position Sri Lanka as a strategic export-oriented economic corridor, integrating it into the South Asian markets, have been ongoing he said.

“Cabinet approved the proposal to enter into a Memorandum of Understanding on Economic Policy Dialogue as part of the efforts to promote and strengthen trade, investment and economic development,” Jayatissa told reporters.

The agreement is to be signed on February 16. (Colombo/Feb10/2026)

Tuesday February 10, 2026 3:08 pm

ECONOMYNEXT – Sri Lanka’s cabinet has approved a proposal to allocate 100 million dollars of a 1,000 million dollar funding from the World Bank’s International Development Association (IDA) for a Northern and Eastern Provinces development plan, minister Nalinda Jayatissa said.

The funding is to be used for a proposed integrated regional development program to be implemented in the two provinces over a six-year period from 2026 to 2031, he said.

“Under the first phase of the program, the focus will be on enhancing regional production potential (tourism, fisheries, etc.), creating jobs or improving existing employment opportunities, supporting enterprises, attracting private capital, and improving infrastructure to empower institutions,” Jayatissa told reporters.

The Department of External Resources will hold discussion with the World Bank and take preliminary steps on the implementation of the proposed project, he said. (Colombo/Feb10/2026)

Tuesday February 10, 2026 2:54 pm

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange closed down on Tuesday, as investors seemed to be booking profits following good earnings results, brokers said.

“Most results seem positive, so it could be investors are booking profits, or maybe it’s a correction,” Shadini Silva, Co-Head of Research at Softlogic Stockbrokers said.

The All Share Price Index closed down 0.43 percent, or 103.17 points, at 23,651.09; while the S&P SL20 closed up 0.04 percent, or 97.58 points, at 6,611.16, as per provisional data.

Market turnover was relatively low at 3.54 billion rupees.

Top negative contributors to the ASPI were Senkadagala Finance (down 68.50 rupees at 837), Cargills (Ceylon) (down 21 rupees at 730), and Dialog Axiata (down 60 cents at 32.70 rupees). (Colombo/Feb10/2026)