Low income settlers enlighten through LFSUS, HNB and YES Foundation

Lanka Financial Services for Underserved Settlements (LFSUS) joined hands with Hatton National Bank to make the dreams and hopes of 130 low income families come true in Tissamaharama by providing a loan facility of LKR 11,400,000.00. The project was carried out by YES Foundation an organization with more than 10 years of experience working with youth, women, child development and business development in the area.

Hatton National Bank Tissamaharama Branch facilitated the initiative under the LFSUS Guarantee programme which supports in housing and infrastructure upgrading on low income settlers.

This is the 3rd successful project conducted in the southern province by LFSUS.

The ceremony was held recently, at Debarawewa National School auditorium where a cheque bearing a sum of Rs. 11,400,000.00 was handed over to Pradeep Paranagama - President/Chief Executive Officer of YES Foundation by the LFSUS Chairman and Deputy General Manager - Development Banking of HNB Chandula Abeywickrema, Susantha Wickremasinghe - Manager HNB - Tissamaharama Branch and Ayanthi Gurusinghe - Chief Executive Officer of LFSUS.

The event was represented by the officials of YES Foundation, LFSUS, HNB and loan recipients.

Expressing gratitude towards LFSUS for bring all stakeholders together and making it possible, Paranagama of YES Foundation stated that the operation of the project was indeed a strength which will create significant development within the community.

Addressing the gathering, the Deputy General Manager of Development Banking Division of HNB and Chairman of LFSUS Chandula Abeywickrama stated that Hatton National Bank is a premier private sector commercial bank in Sri Lanka actively involved in rural development during last four decades. The bank has been in the forefront by providing financial services to the rural community covering a wide and extensive area from agriculture to animal husbandry, fisheries, trading and other self employment initiatives. He further pointed out the significance of this initiative towards the bank and to the community. He also said that LFSUS and HNB aim to get involved with the communities directly in upgrading their socio economic standards by aiding them not only financially, but also in terms of health, education and business by building a sustainable living environment.

Ayanthi Gurusinghe - Chief Executive Offer of LFSUS in her speech mentioned that this is the 3rd project carried out by LFSUS in the Southern province. “LFSUS intends on creating sustainable projects with the ability to function whilst being committed to making the low income sector credit worthy and capable of obtaining loans for housing.” Gurusinghe also recognized the hard work and efficacy demonstrated by the beneficiaries who were mainly women and reminded them of their high potentials and influence abiding towards creating a positive impact in their families and in the community as a whole.

Representing the beneficiaries, Thilaka Nandani highlighted the hardships that they had to go through in obtaining loan facilities from commercial banks and how this project will help them to develop their present condition. Moreover, she extended her sincere gratitude to YES Foundation, HNB and LFSUS for giving them this opportunity to make their lives improve by discovering their strengths.

The informal economy of a developing country has proven to be the most dynamic in nature, hence providing financial inter alia and domestic capital to the sector stands as a much needed and a vital necessity for the country in achieving its developmental milestones. Sri Lanka presently stands at the verge of embarking upon great growths in the financial sector; these initiatives will stand as significant assets in the way of sustainable development. LFSUS throughout all its efforts have envisaged and thrived to address the informal sector in making them bankable and facilitating domestic capital to be used to spawn into new avenues through housing finance opening the massive avenues of opportunity, by way of providing a gateway to develop their business and create service.

All these attempts would counterpart towards the national goals and milestones of the country in creating protract development reaching all parts of society.