Hatton National Bank is looking at more partnerships with interested parties for rural development projects on the back of the recent partnership it struck with Chemical Industries (Colombo) PLC (CIC) and Hayleys PLC, officials said.
Officials at the briefing |
“What we have entered into is a Rs 250 million partnership with CIC and Hayleys in a programme where these two partners will identify prospective farmers, entrepreneurs who are eligible to be linked with the company’s out grower network in sectors such as paddy, livestock, fisheries, fruit and vegetables etc, supply agri input and advisory services, assist in agro technologies and implement buy back agreements with farmers to purchase their produce,” R. Theagarajah, Managing Director, HNB told the Sunday Times FT on the sidelines of a press conference on Thursday to introduce this partnership between the three entities.
He said the bank in turn will focus on providing financial assistance by promoting credit and drive the approach of building financial literacy, technical know-how among the rural farmer community through its branch managers, agricultural officers and micro finance officers serving in the rural areas. “We are planning to strike at least six other such partnerships with other firms and retailers,” he added.
Mr Theagarajah said that HNB is targeting about 10,000 loans ranging from about Rs 100,00 to Rs 200,000 under this programme. “There is enough scope for other interested partners to get into such projects given the peace dividend in the country,” he noted.
He said this initiative will help self employment projects while helping to realise the potential of the country- particularly the farming community. |
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