The International Finance Corporation (IFC) has committed $ 28.6 million to CBL Group as part of a $ 40 million financing package aimed at supporting the Sri Lankan manufacturers’ expansion across Asia and Africa.

The funding has facilitated CBL’s acquisition of PT Tri Jaya Tangguh Indonesia, a large-scale coconut processing facility, and will support the expansion of its biscuit manufacturing plant in Ghana. The move is intended to strengthen the company’s overseas footprint while generating foreign exchange for Sri Lanka.

“This partnership comes at a defining moment for both CBL and Sri Lanka,” said CBL Group Managing Director Shea Wickramasingha. “Global demand for coconut and coconut-based products is accelerating, and we see significant opportunities to position Sri Lanka as a leading exporter in this category. At the same time, our growth in West Africa, particularly Ghana, reflects the rising demand for our brands across new markets. These strategic expansions reinforce CBL’s global presence while contributing to much-needed foreign exchange earnings for Sri Lanka and strengthening the country’s export competitiveness.”

Sri Lanka’s exports grew 5.6% in 2025 to $ 17.2 billion, though the World Bank Group estimates the country has an unrealised export potential of about $ 10 billion annually, with the capacity to create over 140,000 jobs.

“Sustained growth in Sri Lanka hinges on our ability to significantly increase exports and strengthen the private sector,” said World Bank Group Country Manager for Sri Lanka and Maldives Gevorg Sargsyan.

IFC, which began working with CBL in 2017 through advisory programmes targeting SMEs and women entrepreneurs, will continue providing support in Ghana and Indonesia to promote women’s employment and participation across the company’s distribution network.