Grameen products for export markets
by L. S. A. Wedaarachchi
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Deputy Chairman Victor Ratnayaka
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Ceylinco Grameen Development Fund Company Ltd., will export the
products of its members to the Middle East, Australia and Europe. The
three-hundred - thousand women Grameen members who belong to the poorest
of the poor strata of Society have been funded by the Ceylinco Grameen
Development Fund to commence their self-employment projects.
Ceylinco Grameen Export (Pvt) Ltd. was incorporated by the Ceylinco
Grameen Development Fund recently to handle the export activities of
these self-employment projects. The products of Grameen members
including vegetables and fruits, soft toys, garments, leather products
that do not have a good local market attracted foreign buyers in the
preliminary market surveys.
Deputy Chairman, Ceylinco Grameen Development Fund Victor Ratnayaka
said that Rs. 9 billion has been provided as micro loans to the poorest
of the poor women who are members of Grameen societies.
According to the Deputy Chairman the only requirement to obtain a
minimum Grameen loan of Rs. 10,000 which was Rs. 5,000 last year 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 the monthly loan instalments.
Ceylinco consolidated Ltd. operates 25 branches all over the world and
their assistance will be obtained to set up the Grameen self-employment
product export network abroad.
Changing people's lives is the philosophy behind the Grameen concept
which was introduced to Sri Lanka by Dr. Lalith Kotalawela who was
inspired by a Bangladesh economist Mahammed Yunus' book on micro credit
schemes targeted 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. Kotalawela in 2000 at Mosque
Lane in Colombo 3. 2.5 per cent 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 Development Fund.
Ten companies work to develop the Grameen concept - Grameen
Agriculture, Grameen Products, Grameen Portfolio, Grameen Development,
Grameen Automobiles, Grameen Healthcare, Grameen Shop house, Grameen and
Commerce and Grameen Commodity Trading which operates under the flagship
company of the Ceylinco Grameen Development Fund at the five-storied
Grameen house at Kirulapone, Colombo 5.
According to the Deputy Chairman poverty is the root cause of all
problems in society.
Of the 20 million Sri Lankan population four million people fall into
the category of the poorest section. The aim of the Grameen Bank is to
help them to eradicate poverty.
Several banks or financial institutions in Sri Lanka finance them to
start their own enterprises.
The Grameen Development Fund is the only financial organisation which
grants loans without collateral to the poorest of the poor, he said.
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