Archives

DFCC Bank opened its newest branch office recently, in the Polonnaruwa district. It is targeted to service the business community in the North Central and Eastern Provinces. Kaduruwela, considered to be the gateway to the areas under rehabilitation, DFCC Bank has set the stage to fulfil its roles as the country's foremost development bank. Its full service branch office is geared to meet the challenges of an economy in the making," a spokesman for DFCC Bank said.

The Bank's presence in the two provinces is important from the point of view that it is a Participating Credit Institution (PCI) for several economic sector credit schemes. Currently operative schemes are directing funds toward perennial crop development, plantations sector development, energy services delivery projects and the newly launched, Asian Development Bank funded Small and Medium Enterprise Sector Development Program, "Sahanaya'.

The Bank's direct involvement in these provinces will greatly enhance the ability for entrepreneurs in the area to access these concessionary funding sources.

Polonnaruwa is an agricultural farming district with a relatively low density of population and a high degree of land availability for commercial farming. The district is well served by the Mahaweli irrigation system. The area also offers many opportunities for industrial growth and employment creation. Sustained industrial growth within the district is vital for absorption of excess labour into productive employment so as to avoid land fragmentation that could lead to lower agricultural productivity, he said.

Kaduruwela is also a gateway to outlying towns in the Eastern province which conduct a large volume of trade with the rest of the country. Recent trends have shown remarkable growth in trading activity in the East following the peace initiatives.

The DFCC Bank already has eight branches strategically around the country, fully geared to provide funds, ideas, expertise, solutions and everything that goes with enterprise building. Last year, through its branch network, the Bank began offering the public, a new deposit scheme under the brand name Vardhana.

News | Business | Features | Editorial | Security
Politics | World | Letters | Sports | Obituaries |

Produced by Lake House
Copyright 2001 The Associated Newspapers of Ceylon Ltd.
Comments and suggestions to :Web Manager