NDTF to expand credit outreach

Ramani Kangaraarachchi

The National Dev- elopment Trust Fund will expand its credit outreach through the increase in borrowers to 500,000 within the next five years. It stands at 98,000 at present.

Director NDTF P.G. Rupasinghe said the NDTF will be made the Apex Micro Finance Institution in Sri Lanka and the number of partner organisations will be increased up to 300 at the end of the five year period as identified in the corporate plan.

He hoped to address the districtwise imbalance in the spread of partner organisations with special attention to conflict affected areas.

Rupasinghe said there is a vast potential to expand the micro finance outreach of the NDTF and the prospective clientele of future loans is estimated to be in the region of 502,000 according to a survey.

The Fund stemmed from the former Janasaviya from September 1995 and it has disbursed Rs. 1,584 million to partner organisations and was able to increase the loan disbursements of the previous year by 45 per cent of Rs 488 million during 2006.

Rupasinghe pointed out that the fund has contributed to uplift the living standards of under-privileged people of the country by various loan schemes.

These loans have been utilised in paddy, subsidiary crops, potato and vegetable cultivation, fisheries cottage industries animal husbandry and other income generating activities creating self employment and improving the productivity in farms and workshops.

On the invitation of NDTF, the Nobel Peace Laureate Prof Muhammad Yunus will visit Sri Lanka to mark the 12th anniversary of the NDTF.