Commercial Bank hosts entrepreneurship development programme in Hingurakgoda

The Commercial Bank’s on-going initiative to promote entrepreneurship development across the country by empowering micro, small and medium enterprises with the knowledge they need to grow, was recently extended to Hingurakgoda, the largest division in the Polonnaruwa District.

Organised by Commercial Bank’s Hingurakgoda branch with the assistance of the Bank’s Agriculture and Micro Finance Unit (AMFU) in Hingurakgoda, the programme benefitted 125 agri entrepreneurs of the District by providing them with valuable information on developing their ventures. It was conducted in collaboration with the Central Bank of Sri Lanka (CBSL), and CIC Agri Business.

Officials of the Central Bank conducted a financial literacy development programme covering fund management,the difference between formal and informal sector borrowings, how to identify legal tender notes, the Central Bank’sloan schemes and characteristics of Pyramid systems.Representatives of CIC Agri Business coveredkey aspects of effective paddy cultivation by explaining hidden secrets of modern paddy cultivation, how to reduce the cost of cultivation, how to enhance yield, new paddy varieties, effective water management and time management.

Officials of Commercial Bank used the opportunity to introduce the Bank’s new ‘Divisaru’ Micro savings account to the participants, and with assistance of the bank`s Development Credit Department, to make them aware of the salient features of the products and loan schemas available under Development lending.

Among the senior representatives of the organisations involved in conducting the programme were Messrs SanethJayasundara, Commercial Bank’s Regional Manager – North Central,ArunaWijesiri, Assistant Director of the Central Bank of Sri Lanka, ChamilaSenanayaka, Assistant General Manager, CIC Agri Business and ElmoSooriyaarachchiSenior Manager, Commercial Bank Development Credit Department.

The Commercial Bank has conducted similar programmes for SMEs and micro entrepreneurs in areas such as Narammala, Galle, Monaragala, Wellawaya, Badulla, Passara, Bandarawela, Welimada, Weligama, Koggala, Karapitiya, Matara, Batticaloa, Ampara, Kurunegala, Jaffna and Vavuniya in the recent past.

The Bank’s Agriculture and Micro Finance Units are located in Ratnapura, Narammala, Kandy, Anuradhapura, Kilinochchi, Bandarawela, Wellawaya, Hingurakgoda, Galewela, Atchuvely, Vavuniya and Tissamaharama. They identify and support people who need financial assistance for Agri/Micro businesses and provide guidance on how to improve their businesses and help resolve difficulties.