CB’s Poverty Alleviation Microfinance Project II partners with Dialog’s ‘Tradenet’

Beneficiaries under the Central Bank’s Poverty Alleviation Microfinance Project II (Prabodini) will partner with Tradenet service of Dialog Axiata, giving them access to latest market pricing information from the Dedicated Economic Centres and market linkage with producers and service providers. This will in turn enable them to find a stable and sustainable market, and obtain reasonable price for their produce.

Small and medium scale entrepreneurs can use Tradenet to link up with markets and receive instant information through the internet and mobile, and promote their produce. This service can be easily accessible in all three languages (Sinhala, Tamil & English) by dialing 977 through any mobile phone with a Dialog connection. Through the Central Bank’s partnership with Tradenet, beneficiaries under the Prabodini scheme will employ the Tradenet platform to market their produce.

The Prabodini programme is operational through a special loan fund granted under a loan agreement signed between the Government of Sri Lanka and the Japan International Cooperation Agency, and refinance facility provided to participating financial institutions in 14 Districts covering the Northern and Eastern Provinces of Sri Lanka.

The objective of this programme is to enhance the livelihoods of the poorest of the poor and to enhance their income levels. In this context, facilitation will also be arranged to develop skills and to support increasing the income levels of beneficiaries. As at present there are almost 62,470 beneficiaries registered under the Prabodini Scheme, and they are presently into Agriculture, Live Stock, Fisheries and other Small and Medium Scale industries. It is also encouraging to note that approximately 30,050 beneficiaries have been granted loans through the participating financial institutions totaling to Rs. 1,179 million as at date.   

Poverty Alleviation Microfinance Project II (Prabodini) is operational in the districts of Jaffna, Kilinochchi, Mullaitivu, Mannar, Vavuniya, Trincomalee, Batticaloa, Ampara, Puttalam, Anuradhapura, Polonnaruwa, Badulla, Moneragala and Ratnapura. The beneficiaries in these areas can now sell their products / services to a buyer in any part of the country through the tradenet free of charge. Dialog Axiata will also arrange mobile units at special rates for the Prabodani beneficiaries, and plans are also under way to design special pre-paid mobile usage cards for Prabodini beneficiaries as well.