Commercial Bank hosts entrepreneurship development program in Hingurakgoda

The bank’s Hingurakgoda program in progress

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 program 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 program covering fund management, the difference between formal and informal sector borrowings, how to identify legal tender notes, the Central Bank’s loan schemes and characteristics of Pyramid systems. Representatives of CIC Agri Business covered key 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 schemes available under development lending.

Among the senior representatives of the organisations involved in conducting the program were Commercial Bank Regional Manager – North Central Saneth Jayasundara, Central Bank of Sri Lanka Assistant Director Aruna Wijesiri, CIC Agri Business Assistant General Manager Chamila Senanayaka and Commercial Bank Development Credit Department Senior Manager Elmo Sooriyaarachchi.

Commercial Bank has conducted similar programs 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.