SDB bank together with several key enablers of entrepreneurial development including SAPP (Smallholder Agribusiness Partnerships Programme), IFAD (International Fund for Agricultural Development), and MILCO, marked the continuation of its efforts to boost the livelihoods of dairy-based entrepreneurs, with a loan awarding ceremony for its entrepreneur participants.
The event titled ‘The Credit Disbursement & Grant Awarding Ceremony of SAPP Youth Entrepreneurs’ hosted in Aralaganwila, Polonnaruwa, brought together youth entrepreneurs engaged in dairy farming from the surrounding locale, SDB said in a media release.
It drew the participation of dignitaries including Chief Guest - Minister of Agriculture Mahindananda Aluthgamage; SDB bank CEO Thilak Piyadigama; Director SAPP Programme Dr. (Ms.) Yasantha Mapatuna and MILCO Chairman Lasantha Wickramasinghe. At the loan awarding ceremony, of the total number of loans approved and disbursed by SDB bank in their role as the funding partner of the SAPP and IFAD led initiative, a selected few were handed out to youth entrepreneurs operating dairy-farming SMEs by the Minister and other guests.
SDB bank’s key role as the financial facilities provider of the initiative was highlighted by heads of all participating organisations, and their current involvement represents an extension of the bank’s prior partnership with MILCO in supporting dairy farmers through the provision of specialised loans. SDB bank CEO stated, “It is a cause for much pride for SDB bank to be associated with SAPP, IFAD and MILCO in this entrepreneurial initiative, and we are committed to fulfilling our role as banking partner in MILCO’s plans to double milk production within this year, plus to be involved in the wider aim of stopping dairy imports in the next 4 to 5 years”.
The technical know-how and financial literacy afforded by SAPP to dairy-based youth entrepreneurs across the initiative is set to strengthen their enterprises and boost national milk production considerably, complemented by SDB bank and MILCO’s involvement as financial facilities provider and marketplace facilitator respectively. Leveraging the enhanced access created by MILCO to the island’s considerable rural dairy farmer and SME network, the collective efforts of SDB bank, SAPP, and IFAD have allowed for the disbursement of loans to a large number of dairy farmers as a start, with a Rs. 1 billion loan volume expected to be given in the near future to dairy farming entrepreneurs who supply milk to MILCO.
The dairy farmer support initiative has received considerable strength through the harnessing of SDB bank’s extensive reach countrywide and its strong SME ties, with the bank’s Polonnaruwa branch approving 100-plus loans prior to the loan awarding event last week. A similar loan volume has been continuously disbursed across numerous parts of the country in advancing this initiative, leveraging the bank’s islandwide network of 94 branches plus its strength in the SME segment.
The Judicial Service Commission (JSC) has interdicted Colombo Fort Magistrate Kosala Senadheera.
Mr. Ali Sabri Rahim, a Member of Parliament (MP) for Puttalam District whom an open warrant had been issued, attended a public ceremony at Al Aksha National School in Kalpitiya today (16) as the special guest of honor.
The Supreme Court today refused interim relief in an application filed by President’s Counsel Senaka Walgampaya seeking an Order from the Supreme Court compelling the President to appoint judges to fill the existing vacancies in the Court Of Appeal.
Gazette on new speed limit regulations to be issued within two weeks
Two underworld criminals wanted for multiple crimes, including murder, were brought from Dubai to Sri Lanka, today (12).
Senior DIG Nilantha Jayawardena has been sent on compulsory leave pending disciplinary investigation over his failure to prevent the Easter Sunday bombings.
Leave Comments