Development Finance Corporation of Ceylon (DFCC), established in 1955, played a pivotal role in fostering economic development in post-independence Sri Lanka. It was conceived as a specialized institution designed to provide medium and long-term financing to private sector enterprises, addressing a critical gap in the financial landscape of the time. Commercial banks generally shied away from long-term lending, particularly to nascent industries facing inherent risks. DFCC’s initial focus centered on supporting industrial development, providing crucial capital for establishing and expanding manufacturing facilities. It aimed to diversify the Sri Lankan economy, which at the time heavily relied on agricultural exports, mainly tea, rubber, and coconut. DFCC’s support extended beyond mere financing; it also offered technical assistance and advisory services, helping businesses develop viable projects and improve their operational efficiency. This holistic approach proved invaluable, especially for smaller and medium-sized enterprises (SMEs) lacking the internal resources to navigate complex business challenges. Over the decades, DFCC’s mandate broadened to encompass a wider range of sectors. It extended its financing to agriculture, tourism, infrastructure, and other strategically important areas, consistently adapting to the evolving needs of the Sri Lankan economy. It actively participated in promoting export-oriented industries, contributing to increased foreign exchange earnings and job creation. DFCC operated primarily as a development finance institution (DFI), relying on funding from multilateral agencies like the World Bank and the Asian Development Bank, as well as bilateral development assistance programs. This access to concessional funding allowed it to offer more favorable financing terms to borrowers compared to purely commercial lenders. It also fostered partnerships with other financial institutions, both local and international, to expand its lending capacity and leverage specialized expertise. In the late 1980s and early 1990s, as Sri Lanka embraced economic liberalization, DFCC underwent significant transformations. It gradually transitioned from a purely development-oriented institution to a more commercially focused entity. This involved strengthening its financial management practices, improving its credit appraisal procedures, and adopting a more market-driven approach to lending. A landmark event in DFCC’s history was its conversion into a fully-fledged commercial bank, DFCC Bank PLC, in 2003. This transformation enabled it to offer a wider range of banking services, including deposit mobilization and transactional banking, further enhancing its ability to serve the needs of its customers. The transition marked a significant shift, as DFCC embraced a more competitive environment while retaining its commitment to development finance. Today, DFCC Bank PLC stands as a leading financial institution in Sri Lanka, continuing to support economic growth through its lending and investment activities. While it operates within a commercial framework, its roots as a DFI remain evident in its commitment to responsible lending, supporting sustainable development initiatives, and empowering businesses to achieve their full potential. The legacy of the Development Finance Corporation of Ceylon continues to influence DFCC Bank’s approach to business, solidifying its position as a key contributor to Sri Lanka’s economic progress.
568×438 development finance broker commercial finance network service from uk-developmentfinance.co.uk 
842×541 development finance larkbridge from larkbridge.co.uk 
760×305 development finance davies finance from www.daviescorporate.co.uk 
400×400 development finance lending criteria loan approved from www.kisbridgingloans.co.uk 
634×800 ceylon company limited from numistoria.com