NDB helps handloom industry

The NDB recently conducted an entrepreneurship training program for students of the Textile Training Institute in Moratuwa.

The Textile Training Institute, operating under the purview of the Textile Department of Sri Lanka conducts a handloom textile training course, which provides the technical skills required for the continuation of the industry in Sri Lanka.

However, it has been revealed that 95% of the students who complete this course do not pursue careers within the handloom industry but resort to other means of livelihood. This is one of the main reasons for the waning of the handloom industry.

CEO, NDB, Russel de Mel said, "We came to realise that the main reasons for the high dropout rate after completion of the textile course; was the lack of financial support and entrepreneurial knowledge to embark on an enterprise.

"The handloom industry is a unique heritage of Sri Lanka and has been deteriorating over time, mainly due to the lack of financial backing and industrial know-how," he said.

"Therefore, the NDB has come forward to support the industry by providing the capital for start-ups and providing entrepreneurship training for students who have nearly completed the handloom textile course," de Mel said.

"We hope to make the handloom industry a self-reliant, thriving industry, while encouraging the younger generation to take up the profession by bridging gaps across the industry and academia," he said.

"There is a growing demand for environmentally responsible products such as handloom textiles are becoming popular. As a bank committed towards national development and a precursor in SME development, we took the initiative to revive this industry and make it more competitive in the market place," de Mel said.