LB Finance to assist 150 preschools islandwide to reinforce quality early childhood education

Addressing a key area of early childhood development as part of the company’s CSR agenda, LB Finance has initiated a plan to develop 150 preschools nationwide. Following a stringent criterion based on parental income, each LB Finance branch from Panama to Batticaloa selected a preschool to render assistance as part of the first phase of the project and accordingly 10 preschools were refurbished, furnished and supplied with necessary learning materials and toys. 

In addition, LB Finance set up savings accounts for 250 preschoolers with a free initial payment from the company. The project was implemented based on a concept by LB Finance Deputy Chairman Dhammika Perera.

“As a responsible corporate entity with vested interest in the country’s future progress, we felt the need to create opportunities for children from rural areas to have access to quality education. The economic challenges faced by many families in the area leads to a negligence of children’s early education. We were happy to be able to help improve the situation and encourage learning and development amongst children from such a young age,” commented LB Finance Managing Director Sumith Adhihetty.

International body, UNESCO defines early childhood ‘as the period from birth to eight years old. A time of remarkable brain growth, which lays the basis for subsequent development. Early childhood care and education (ECCE) is more than a preparatory stage assisting the child’s transition to formal schooling. It places emphasis on developing the whole child – attending to his or her social, emotional, cognitive and physical needs – to establish a solid and broad foundation for lifelong learning and wellbeing’. 

“I am grateful to LB Finance for their support in helping make our preschools into spaces where children feel comfortable and happy. The transformation of the preschool premises and the additional supplies of learning tools attracted the attention of parents in the area and as a result they feel confident and inspired enough to send their young children to preschools. The children too are enthusiastic about coming to school and enjoy their time here. On behalf of all 10 preschools and the educators there I want to express my sincere gratitude to LB Finance for this insightful venture,” commented D.M. Aushua, Pre School teacher in Damana, Ampara.

A number of reasons such as poverty, lack of facilities and primary level teachers as well as an inherent lack of interest in early childhood education causes many children in areas such as Ampara and Panama to miss out on early childhood development focused education.

On a global level, early childhood education remains the ‘forgotten link’ in education policies and programmes worldwide. According to findings by UNESCO devoting more resources especially to the most disadvantaged children should be the ‘first step’ of a broader national early childhood care and education policy. 

“It is a well-researched fact that a child’s physical and psychological development is shaped by experiences during the first years of life. And it is important that all of us as responsible adults try and help our future generation to become well-balanced and informed adults. That is why we have already initiated plans to carry out similar programme throughout Sri Lanka,” commented LB Finance Managing Director Sumith Adhihetty.

Early Childhood care and education (ECCE) is inherently a smart investment for the future of a nation. Children who receive ECCE will be better prepared for formal education as they grow older and this will lead to human capital growth. Moreover, equal opportunities in ECCE will ensure that individuals from different backgrounds gain the opportunity to grow and become key participants of the country’s social and economic progress. 

Established in 1971, LB Finance has become a trusted and a mush respected financial company in Sri Lanka with a deposit base of over 50 billion.