GTZ and LOLC in partnership to uplift micro finance

Lanka ORIX Leasing Company (LOLC), a leading Total Financial Solutions Provider in Sri Lanka signed an MOU with the German Technical Cooperation (GTZ) to facilitate and enhance the development of the Micro Finance Sector in the country under the 'Promotion of the Micro Finance Sector' programme, recently.

"ProMis" (Promotion of the Micro Finance Sector) is a programme being implemented by the Ministry of Finance and Planning together with GTZ and funded by the German Federal Ministry of Economic Cooperation and Development (BMZ) to enhance and improve services offered by selected Micro finance institutions to the poorer sections of society.

Under this programme GTZ will collaborate with LOLC mainly to set up low cost branches in underdeveloped, underprivileged regions, extend support to introduce and develop the IT infrastructure of LOLC's Micro Finance Operations and also help in capacity building of LOLC Micro Finance staff.

LOLC, as a leading Total Financial Solutions Provider in the country has identified the importance of Micro finance in terms of social and economic development of the rural communities and the economic growth of the country.

At present LOLC provides Micro Finance facilities to all communities, predominantly rural entrepreneurs and aggressively expanding to disadvantaged regions including the North and East. This agreement with GTZ will assist LOLC to more effectively serve the rural community.

"We have a widespread network of branches comprising of 23 branches and 10 service centers providing all our services and covering the entire country.

"With this agreement we will be able to strengthen our effort to assist the needy sectors in the rural areas of the country.'' said Ravi Tissera, CEO of Micro Finance Having considered our track record, solid business direction, transparent governance and strong financial profile, many prominent multilateral agencies were keen to partner with us" he said.