Prime Lands in new venture with Grameen Micro Finance

Hemanthi GURUGE

A new microfinance company, Prime Grameen Micro Finance Limited was launched on Wednesday.

Prime Lands has joined Grameen Micro Credit to support the living standards of thousands of people in the country in this new venture.

Prime Grameen Micro Finance Limited Chairman B. Premalal said the new company was launched to serve a large number of needy people throughout the country. Microfinance loan facilities will be provided through their 48 islandwide branches to initiate self-employment.

Prime Lands is a leader in the real estate sector and has been in business for over 15 years. Grameen is the pioneer microfinance institution in the country that empowered women to take a leading role in supporting the family to overcome poverty through self-employment projects by micro finance loans, Premalal said. Grameen has provided Rs 23 billion in loans without collateral or guarantors. This process had made a significant contribution to the development of Sri Lankan economy.

Premalal said the new company will improve to provide an efficient and effective service to its customers. Prime Grameen plans to introduce new services including leasing, pawning and land purchasing.