LOLC Expands reach with Sri Lanka Post

LOLC, signed an MOU with the Postal Department of Sri Lanka to open up "Isuru Diriya" service centres at the post offices. LOLC Micro Credit Ltd, the microfinance arm of the LOLC Group will be operating in these centres offering a range of products to the customers in the regions. In 2003 LOLC ventured into Micro Financing and has grown to become a leading Agro and Microfinance solutions provider today. The Company has identified the importance of Micro finance in terms of social and economic development of the rural communities and the economic growth of the country. At present LOLC provides Micro Finance facilities to all communities, predominantly rural entrepreneurs and aggressively expanding to disadvantaged regions. The new business strategy of LOLC requires it to increase its geographic reach significantly through cost-efficient distribution channels and tying up with the postal department will be of immense benefit. "We are hoping to commence services at many other locations around the country through the post offices in the near future.

We identify high potential for growth and development in the regions particularly with their agricultural economies, making a vital contribution to the development of the country's economy.

LOLC hopes to spearhead rural development and play a prominent role as a Total Financial Solutions Provider by increasing its reach." Said, CEO of LOLC Micro Credit Ltd., Ravi Thisera