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| Sunday, 19 December 2004 |
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Business |  |
| News Business Features Editorial
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Poorest women benefit under Ceylinco umbrella L. S. A. Wedaarachchi A program which gives credit to the poorest women without guarantors and mortgage, to start a small-scale business or self employment is now in place islandwide. The relevant technology or advice will also be provided by the credit supplier. Sixty thousand (60,000) females are engaged at present in the spheres of self-employment projects as garment, soft toys, gift items, small-scale shops, food and vegi-fruits to mention a few. The credit supplier to the poorest of the poor community is Ceylinco Grameen Credit, a wing to develop the society of Ceylinco Group. Although the traditional banks and the financial institutions do not grant loans without collateral and guarantors, Ceylinco Grameen Credit grant loans without any mortgage or guarantors to their members. The one and the only qualification to become a member of Grameen Group is to be the poorest among the poor. But he or she should display ability to start and improve his or her self-employment. As described by Deputy Chairman of Ceylinco Grameen G. Victor Ratnayaka the progress of Grameen vision is remarkable. Under the able guidance and leadership of Deshamanya Dr. Lalith Kotelawala Ceylinco Grameen operations started in May 2000 and at present 46 branches are in operation islandwide and sixty thousand (60,000) self-employment projects are in progress giving relief to the poorest of the poor Grameen members. When Dr. Lalith Kotelawala was hospitalised in America to undergo eye surgery he read the Bank of the Poor written by eminent Bangladesh scholar Prof. Mohamad Unuz and was greatly influenced by the propagated principles enunciated by it. Dr. Kotelawala started his Grameen project to help the poorest of the poor sector in our society after his return to Sri Lanka. This idea was mooted and given shape at Mosque Lane, Kollupitiya.Under the Grameen operation the lowest rung of the ladder is a five-member group which was selected from the poorest society from the lane or the area. Such fifteen (15) groups create a centre of seventy five (75) members and three thousand (3,000) members become a branch. All members are entitled to Rs. five thousand (Rs. 5000) self-employment loan at the enrolment without any mortgage or guarantors and which should be settled within a period of twelve (12) months, to the Ceylinco Grameen Credit Company by monthly instalments. The borrowers who settle their credit in time are eligible to obtain twice of the previous loan, proving his or her success. Victor Ratnayaka, Deputy Chairman of the Grameen Group pointed out that except two borrowers all the Grameen self-employment borrowers have settled their dues in time, up to date. At present some of the leading super shops in Colombo display and sell the products as garments, soft toys, gift items obtained from the Grameen members, he explained happily. At present there are three super shops organized exclusively to sell the products of the Grameen members in Kegalle, Kandy and the Ceylinco House head office in Fort, are functioning very well. The farmers are also organised under the Grameen concept and the member farmers of the Ceylinco Grameen producers. Company are eligible to apply for the first credit of Rs. twenty-five thousand (Rs. 25,000) enjoying the concessions given to them. According to the vice chairman of the Ceylinco Grameen Group the progress of vegi-fruit productions and supplies of the Grameen members are commendable. At present five lorries are engaged in supplying, carefully selected - fresh vege-fruits to Laugfs supermarkets in Colombo. According to the latest statistics forty per cent (40%) of our people live below poverty line. All indications are that the Grameen project, with the goodwill of the people will gain great momentum in the years to come. |
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