Sri Lanka's leading private sector bank, HNB PLC, announced the return of its ඔබ වෙනුවෙන් අපි (Oba Venuwen Api) Microfinance Grant for 2023/24, disbursing Rs 5.2 million to 52 selected microfinance entrepreneurs.
The launch event of this year's Microfinance Grant initiative took place recently at HNB Towers, with HNB Acting CEO Damith Pallewatte, COO Sanjay Wijemanne, CHRO K. Indravasan, and other members of corporate and senior management from the Bank. At the event, five entrepreneurs were awarded Rs. 100,000 each to strengthen their businesses and work towards achieving SME status.
Allocated across various sectors, including fisheries, construction, agriculture, engineering, farming, food processing, and manufacturing, this grant aims to empower individuals and sectors to enhance their productivity, invest in improvements, and sustain their livelihoods amidst economic difficulties. The grant seeks to mitigate issues afflicting SMEs, such as rising costs, limited access to credit, and the need to keep up with constant technological advancements while fostering economic resilience and growth in the affected communities.
"As Sri Lanka's economic landscape begins to stabilize, this presents a pivotal moment for microfinance entrepreneurs to adapt, fortify, and scale their businesses. Beyond the bottom line, we at HNB are dedicated to empowering our customers and contributing to the nation's progress, and we view initiatives like the Oba Venuwen Api Microfinance Grant program as a strategic investment in the resilience and prosperity of Sri Lanka's entrepreneurial ecosystem.
"By providing them with the necessary resources and encouragement, we aim to equip these small business owners with the tools they need to overcome challenges and thrive. We are confident that our customers will maximize the potential of this grant, whether for bolstering working capital, recapitalizing their operations, or getting back on their feet after recent economic turbulence," said HNB CHRO K. Indravasan.
The HNB Sustainability Foundation began the initiative in 2020/2021 to assist microfinance entrepreneurs in restarting and accelerating their businesses. Last year, HNB built on its support, disbursing Rs. 34.8Mn to 348 entrepreneurs to empower this vital segment of Sri Lanka's economy.
"At HNB, empowering grassroots entrepreneurs isn't just a mission; it's woven into the core of our ethos. This initiative goes beyond providing financial support - it's about planting the seeds of sustainable entrepreneurship that will flourish over time. We envision a future where our customers not only grow but also become more resilient, all while fostering a strong sense of community, while also aiming to strengthen the economic foundation of Sri Lanka. It's this holistic approach that truly embodies our commitment to being a partner in progress, driving meaningful change from the ground up," said HNB Chief Human Resource Officer, K. Indravasan.
