LOLC expands reach with Sri Lanka Post
LOLC, a leading Total Financial Solutions Provider in Sri Lanka
signed an MoU with the Postal Department of Sri Lanka to open Isuru
Diriya service centres in post offices.
LOLC Micro Credit Ltd, the microfinance arm of the LOLC Group will
operate these centres offering a range of products to the customers in
the regions. In 2003 LOLC ventured into Micro Financing and has grown to
become a leading Agro and Microfinance solutions provider today.
The Company 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.
The new business strategy of LOLC requires it to increase its
geographic reach significantly through cost-efficient distribution
channels and tying up with the postal department will be of immense
benefit.
CEO of LOLC Micro Credit Ltd. Ravi Thisera said, "We are hoping to
commence services at many other locations around the country through the
post offices in the near future.
We identify high potential for growth and development in the regions
particularly with their agricultural economies, making a vital
contribution to the development of the country's economy.
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