BOC launches Agri Banking Unit

Bank of Ceylon (BOC) officially launched the BOC Agri Banking Unit, first of its kind to drive sustainable growth and innovation in Sri Lanka’s agriculture sector. 

This specialised platform is designed to strengthen financial support to the agribusiness sector while promoting modern, sustainable and technology-driven agricultural development.

The BOC Agri Banking Unit will focus on multiple segments within the agriculture sector, including crop cultivation, livestock development, fisheries, horticulture, agri-technology and smart agriculture. By supporting these diverse agricultural sub-sectors, the bank intends to encourage modernisation and innovation in agri-practices while ensuring better access to financial services.

The Agricultural Banking Unit was formally inaugurated recently at the BOC head office, under the patronage of Chairman Kavinda De Zoysa and General Manager and Chief Executive Officer Y. A. Jayathilaka. The event was attended by the members of the bank’s senior management, marking a significant milestone in the bank’s mission to strengthen financial support for the agribusiness sector.

De Zoysa said, “Through this Agricultural Banking Unit, we aim to empower farmers and agri-entrepreneurs with not only financial strength but also technology know-how and comprehensive solutions that enable them to scale up production, add value and reach international markets,” he said.

A key focus of the unit will be the integration of modern technologies into farming practices. By facilitating access to precision agriculture tools, modern irrigation systems, mechanisation, digital monitoring technologies and advanced crop management techniques, the bank aims to significantly improve productivity, efficiency and sustainability within the sector.

The initiative also seeks to strengthen the agricultural value chain by encouraging small-scale farmers to transition from subsistence farming to commercially viable agricultural enterprises. The unit will actively support investments in value addition, agro-processing, post-harvest management and agri-tourism while facilitating financing under concessionary interest rates and flexible lending conditions.

Jayathilaka explained that the establishment of the Agricultural Banking Unit is a long-overdue initiative aimed at supporting Sri Lanka’s agricultural development and strengthening the country’s agri ecosystem. 

Jayathilaka further stated that the Agricultural Banking Unit has been established to facilitate the sustainable growth of the agriculture sector, including the financing of large-scale agricultural projects, processing, transportation and export-oriented activities.