HNB has launched a 20 million rupees grant fund to support 200 microfinance customers affected by towards achieving SME status. HNB will grant funds in two phases to chosen microfinance customers with a view to revive as well as continue businesses impacted by the COVID-19 pandemic across the country. The fund, established by the Bank through the HNB Sustainability Foundation will offer microfinance customers up to 100,000 rupees to upscale their businesses and work towards achieving SME status. HNB will grant funds in two phases to chosen microfinance customers with a view to revive as well as continue businesses impacted by the pandemic.
“I am very pleased to an-nounce the launch of this vital source of funding through our Sustainability Foundation in support of microfinance entrepreneurs. 2020 has been extraordinarily challenging for all and this initiative comes at a most opportune and appropriate moment when businesses across the island are seeking the capital necessary to restart work. Our expectation is that our customers will make good use of this grant, for working capital, recapitalizing their business and get back on their feet. As we have worked with the microfinance sector for more than three decades and SME sector since our origins, we have come to understand that we need to scale up our support by providing them with the necessary financial assistance and literacy to uplift them from the grassroots to become a SME,” expressed Jonathan Alles, MD and CEO, HNB and Chairman of the HNB Sustainability Foundation.
The Bank’s Sustainability Foundation drives corporate citizenship through its strategic pillars, with customer centers across the island, undertaking location-based CSR projects involving the community and staff. The Foundation’s strategic pillars includes – education, healthcare, empowering entrepreneurship and the environment.
“It has been a long-term goal of the HNB Sustainability Foun-dation to establish an impact fund to create more opportunities for customers at the grass roots by collaborating with partners locally and internation-ally. With this fund we hope to provide livelihoods and act as a catalyst in Sri Lanka’s journey towards sustainable develop-ment,” said L Chiranthi Cooray, Chief Transformation Officer/ DGM and HNB Sustainability Foundation Trustee.