About CGF
Management
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PHLW Perera
Chairman, Construction Guarantee Fund / Trustee |
P. Algama
Director General of Department of Public Finance / Trustee |
Mr Kumar Mallimaratchi
Chairman of Federation of Chamber of Commerce and Industry of Sri Lanka /Trustee |
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Deshamanya S P Liyanarachchi
Chairman –National Construction Association of Sri Lanka / Trustee |
Mr Anura Dassanayake
Chairman, Institute of Contractors Training and Development / Trustee |
Prof. Harendra Dissabandara
Director General of Securities and Exchange Commission |
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Dr. Eddie de Zylva
Founder Trustee / CEO
Presently adviser to the board |
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Every construction project has an element of risk and uncertainty which clients are becoming more and more averse.
To mitigate these risks, clients have gradually evolved to expect reputed contractors and sub contractors to provide bonds to eliminate the inherent uncertainties related to a construction project.
For several decades Construction Contractors in Sri Lanka, particularly the small and medium scale contractors were faced with a dilemma, when they were required to furnish Bonds & Guarantees for the purpose of bidding and executing construction contracts for the State & Private sector organizations.
Following on, as a result of the 1999 Budget Proposal, the Construction Guarantee Fund (CGF) was established with a view to assist construction contractors to overcome financial constraints which were being faced by them in performing contracts. The State initially allocated a sum of Rs.100 Million from the National Budget of which Rs.55 Million has already been released to this fund. The Treasury was mandated to implement the decision of Parliament and the setting up of the fund.
