USAID to support expansion of Union Bank’s women-focused financial services

Monday, 29 January 2024 00:00 - - {{hitsCtrl.values.hits}}

USAID CATALYZE PSD, Activity Team Lead Juan Forero (right) exchanges the agreement with Union Bank Senior Vice President, SME and Transaction Banking Asanka Ranhotty.

USAID CATALYZE PSD Deputy Team Lead Delrene Seneviratne and Senior Sector Manager, SME Competitiveness Inuri Illeperuma, Union Bank Vice President Marketing Thishani Dissanayake and Chief Manager – Development Financing and Business Revival/Rehabilitation Janaka Edirisinghe are also present

In a recent agreement, the United States through the United States Agency for International Development’s CATALYZE Private Sector Development (PSD) Activity has extended support to Union Bank, enhancing the bank’s efforts to foster its women-focused financial services.

This impactful collaboration will promote financial inclusion by addressing the specific needs of female customers in the banking sector through in-depth market research, a robust Customer Value Proposition, and strategic linkages with Sri Lankan women and women-owned Small and Medium Enterprises (SMEs). By increasing the availability and affordability of financial products for WSMEs, USAID increases women’s economic empowerment and fosters economic growth.