LOLC 'Viyapara Shilpa' disseminates knowledge amongst remittance recipients

LOLC, has partnered with SEEDS, the ILO, UNDP, UNHCR and UNFPA to carry out a series of workshops island wide for families of individuals who remit foreign currency to Sri Lanka. The program is carried out by LOLC through its education related CSR arm 'Viyapara Shilpa'.

Chairperson LOLC Rohini Nanayakkara exchnages the agreement with Chairman SEEDS Dayananda Muthukumarana.

LOLC 'Viyapara Shilpa' carried out similar programs to regional entrepreneurs a few years ago with the objective of giving them knowledge on how to improve their businesses and run them efficiently and effectively.

This was very successful as there was a dire need for knowledge of this nature amongst the rural entrepreneurs and the program was well received.

The objective of the program is to disseminate business knowledge amongst remittance recipients in order to encourage them to save their foreign earnings and invest it in an income generating venture which will make them economically stable.

Sri Lanka receives a significant volume of remittances and quite a noteworthy percentage of this is used towards consumption and not invested in income generating activities.

As per the statistics released by the Foreign Employment Bureau, the revenue generated by migrant workers has increased by 14 percent during 2009.

The revenue generated through these migrant workers in 2009 was USD 3.3 billion and a total number of 247,119 workers had migrated for foreign employment purposes this year.

It continues to be the number one foreign exchange earner for the country.