DFCC Bank has initiated a special series of workshops named ‘Vardhana Sahaya Hamuwa’ to nurture the growth of the Micro, Small and Medium Enterprises (MSMEs) in Sri Lanka.
The primary focus of these programmes is to increase the financial literacy and financial management abilities of the MSME sector in addition to the financial services offered.
The first two such workshops were held at the DFCC Bank branches in Balangoda and Kahawatte in August and September 2017.
Dilhan De Silva, Senior Assistant Director at the Central Bank of Sri Lanka, was the guest speaker at both events and shared his expertise on “Entrepreneurship and literacy on finance management.” The audience consisted of more than 100 local MSMEs, spanning agriculture, industrial and service sectors. They actively engaged the speaker in questions and clarifications, making this event a vital learning opportunity for the entrepreneurs.
“The government has identified the MSME sector as an important strategic sector in its overall policy objectives and the Central Bank of Sri Lanka has supported this agenda in the policies implemented to boost this sector through technical and financial assistance. DFCC Bank is renowned for its SME banking expertise and has steadfastly supported this sector from our inception,” says Lakshman Silva – CEO, DFCC Bank. “We proactively engage in drawing down from several lines of credit available to us for MSME lending, and our commitment to the development of MSMEs outside the Western Province is significant. Our dedicated MSME unit has introduced these workshops in reflection of our commitment to the MSME sector, to encourage Sri Lankan entrepreneurs and to nurture their growth.”
In 2016, DFCC Bank’s dedicated MSME unit launched Vardhana Sahaya, a product created specially for MSMEs in Sri Lanka, which offers a range of financial services including loans, overdrafts, leases and bank guarantees.
The loan facilities have been created with MSME needs and challenges in mind, and offer a wide range of options: loans for start-ups, for expanding or relocating machinery and operational activities, as well as for working capital.
Vardhana Sahaya clients are also entitled to a special free insurance scheme developed by DFCC Bank. The MSME unit also provides information on creating financial plans and offers other personalized resources to help MSME clients grow their business and foster localized economic development throughout the country.
In response to the positive feedback and MSME engagement seen at the first two workshops, DFCC Bank plans to host these special MSME workshops at all their branches in the near future, providing a vital learning opportunity to entrepreneurs.