"The agreement also demonstrates Sri Lanka’s long-term potential as a destination for investment and should serve as a positive signal for international investors," said Marcos Brujis, head of the IFC Capitalization Fund.
IFC said it had a committed portfolio of 274 million dollars in Sri Lanka covering infrastructure, tourism, renewable energy, finance, and health care.
Commercial Bank is the largest private bank in Sri Lanka.
The funds will be used to fund 16,000 small businesses which may create up to 170,000 direct and indirect job opportunities, Commercial Bank said in a statement.
"This investment by IFC is much more than a milestone for Sri Lanka and Commercial Bank, said Ravi Dias, managing directo