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| Sunday, 7 May 2006 |
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Grameen provides over Rs. 5 b in loans by L. S. A. Wedaarachchi Ceylinco Grameen Development Fund Company which provides loans and self employment opportunities for the poorest of the poor women all over the island completes six years tomorrow. It has created self-employment opportunities for 250,000 women whose monthly income is less than Rs. 1,300. Changing people's lives is the philoshopy behind the Grameen concept which was introduced to Sri Lanka by Dr. Lalith Kotelawela being inspired through Bangladesh economist Mahammed Yunus' book on micro credit schemes aimed at the poorest women in Bangladesh. Grameen activities were started in a vehicle which was used as a mobile office by three confidantes of Dr. Kotelawela in 2000 at Mosque Lane in Colombo 3. 2.5 percent of the profit of all companies under Ceylinco Consolidated are diverted to the Grameen fund to carry out the poverty alleviation activities of the Grameen Bank and up to date the total amount of the loans granted by the Grameen Bank in more than Rs. 5 billion. Ten companies work to develop the Grameen concept, namely Grameen Agriculture, Grameen Products, Grameen Portforlio, Grameen Development, Grameen Automobiles, Grameen Healthcare, Grameen shop House, Grameen e commerce and Grameen Commodity Trading, which operate under the flagship company of Ceylinco Grameen Bank at the five-storied Grameen House at Kirulapone, Colombo 5. "Poverty is the root for all problems in society. Of the 20 million Sri Lankan population, four million people fall into the category of the poorest section. Their monthly income is lower than Rs. 1,300. In other words one-fifth of the Sri Lankan population constitutes the poorest of the poor. The aim of the Grameen Bank is to help them to eradicate poverty. No Bank or financial institution in Sri Lanka finances them to start their own enterprises. The Ceylinco Grameen Bank is the only financial organisation which grants loans without collateral to the poorest of the poor. The only requirement to obtain a minimum Grameen loan of Rs. 5,000 is for a woman to have a self - employment plan. The remarkable feature of this social segment is that not a single person who obtained a loan has defaulted on her monthly loan instalments said Victor Ratnayaka, the livewire and Deputy Chairman of the Ceylinco Grameen Development Fund Company Ltd. Ratnayaka said that today there are 78 Grameen branches all over the island and over 2,000 young staffers work hard upholding the Grameen concept to eradicate poverty from our society. Sri Lanka's challenge is easier than Bangladesh where the Grameen concept originated. The poorest of the poor is only 20 percent in Sri Lanka compared to 50 percent in Bangladesh. We are confident that before we complete our seventh year, next year the Grameen Bank will be able to reach out to the entire segment of the poorest of the poor, Ratnayaka said. When a self-employed person needs a vehicle, tractor or a motor-cycle to improve her business activities, the Grameen automobile Company will assist her to obtain a brandnew vehicle. Leasing facilities will also be arranged. Grameen Automobiles has a motor cycle assembling plant at Panadura where 80 people are employed including foreign trained technicians. Playing the highest rates to vegetable cultivators, Grameen purchases vegetables and agricrops from the farmers eliminating the middleman from the business. Sri Lankan agricrops were sent to 18 countries last year by the Grameen
Company which has a network of Grameen Agricrop sales outlets all over the
island. |
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