GTZ and LOLC seeking to improve micro finance sector

Lanka ORIX Leasing Company (LOLC) has signed an MoU with the German Technical Cooperation (GTZ) to facilitate and enhance the development of the micro finance sector in the country under the ‘Promotion of the Micro Finance Sector’ programme, recently.

“ProMis” (Promotion of the Micro Finance Sector) is a programme being implemented by the Ministry of Finance and Planning together with GTZ and funded by the German Federal Ministry of Economic Cooperation and Development (BMZ) to enhance and improve services offered by selected Micro finance institutions to the poorer sections of society, LOLC said in a press release.

Under this programme GTZ will collaborate with LOLC mainly to set up low cost branches in underdeveloped, underprivileged regions, extend support to introduce and develop the IT infrastructure of LOLC’s Micro Finance Operations and also help in capacity building of LOLC Micro Finance staff.

“We have a widespread network of branches comprising 23 branches and 10 service centres which provide all our services and covers the entire country. With this agreement we will be able to strengthen our effort to assist the needy sectors in the rural areas of the country,” Ravi Tissera, CEO of Micro Finance, said.