HNB PLC, allocated Rs.10 million as a grant fund for 100 microfinance entrepreneurs under its flagship ‘Oba VenuwenApi’ initiative to rebuild their businesses.
Set up by the HNB Sustainability Foundation, the grant aims to provide uptoRs. 100,000 as financial assistance to select microfinance customers, enabling them to strengthen their businesses, and ultimately working towards achieving SME status.
HNB MD/CEO Jonathan Alles said, “In a year marked by extraordinary challenges, this initiative is essential for businesses seeking capital to re-establish their operations. With our decades-long commitment to microfinance and the SME sector, we recognise the importance of scaling up our support, providing financial assistance and enhancing financial literacy to uplift grassroots entrepreneurs.
We expect our customers will make optimal use of this grant, whether for working capital, recapitalising their business, or getting back on their feet.”
Working through the Gami Pubuduwa network, HNB has disbursed Rs. 30 million to 300 microfinance customers across the island since the fund’s inception in 2020. Supporting critical sectors through the initiative, the bank disbursed close to 70% of the grant fund to entrepreneurs in the agricultural (25%), manufacturing (46%) and other industries (29%) industries.
HNB DGM Sustainability and Corporate Communication, L. Chiranthi Cooray said, “Empowering grassroots entrepreneurs isn’t just a mission; it is our ethos. We envision long-term growth and resilience for our customers through this initiative as it sows the seeds of sustainable entrepreneurship, all while nurturing a strong sense of community and empowerment at the centre of our efforts.”
Using its extensive network of Gami Pubuduwa officers stationed across the island, the bank cultivated trust and long-lasting relationships with entrepreneurs that extend beyond capital and include vital advisory services and training programs designed to enhance financial literacy, strengthen enterprises and facilitate export opportunities.
