Micro scale Urubokke businessmen receive loans under Citi – CCC project
View(s):Under the Citi – CCC Rural Economic Empowerment Programme, Hatton National Bank provided loan facilities to a group of micro scale businessmen in the Urubokke area of the Matara district to commence new businesses as well as for expansion of existing businesses.
A total of 37 entrepreneurs, who were earlier trained by the Citi – CCC Rural Economic Empowerment Programme on identifying commercially viable business and preparation of business plans for commencing new businesses or expansion of existing businesses as well as on ways and means of sourcing finances from the formal financial sector, were awarded loans by HNB Urubokke branch, which is set up as a “Gemi Pubuduwa” branch to cater to the micro scale entrepreneurs, according to a CCC media release.
Among them were 17 female entrepreneurs, who are engaged in micro scale food processing, running tea and spice nurseries and grocery shops in their locality. Male entrepreneurs are mainly engaged in tea and cinnamon cultivation and collection of tea leaves and cinnamon quills.
Urubokke is the nearest town for the remote villages on the southern Sri Lanka namely Beralapanathara, Morawaka, Waralla, Bengamuwa, Gomawila coming under Pasgoda DS Division of the Matara District. Majority of the villagers are engaged in smallholder tea cultivation and cinnamon cultivation.
Further, many of them are engaged in businesses such as micro scale food processing, running tea and spice nurseries, grocery shops, and collection of tea leaves and cinnamon quill.
Chandra D. Vithanage, CCC’s Senior Assistant Secretary General, in his opening remarks, highlighted that providing micro finance is nothing new as there are over 25 commercial banks and many microfinance institutes offering loans. However, this Citi-CCC Rural Economic Empowerment Programme offers much more than micro finance by focusing on providing an integrated package of services including providing capacity development, technical know-how, business development services and exposure to best practices business management in order to make their chosen business commercially viable, which will help them to access financial services from the formal system.
Jude Fernando, Assistant General Manager – SME and Development Finance of HNB, noted that the HNB has been supporting the rural entrepreneurs through “Gemi Pubuduwa” programme for nearly two decades and is privileged to partner with Citi- CCC Rural Economic Empowerment programme, which was funded by Citibank and implemented by the Ceylon Chamber of Commerce.
Ravin Basnayake, Citi Country Officer, Citibank Sri Lanka stated that the CSR programmes of Citibank globally is aimed at nurturing rural micro scale businesses so that they could grow and contribute to the national economy of the respective countries. In line with Citi Bank’s global programmes, it was decided to implement this programme for economic empowerment of rural entrepreneurs, who have no adequate access to finance and technology, in a few remote villages of Sri Lanka.