NDB Bank’s SME loan scheme, ‘Divi Aruna,’ was extended to Wariyapola recently, with an aim to further enhance the lives of the people in the area.
As such 30 dairy farmers were benefited at the bank’s Wariyapola opening when NDB Bank handed over funding for the farmers to carry out their businesses.
The ‘Divi Aruna’ loan scheme aims to provide funding that will develop the lives of the communities, elevate their social standing and empowering them to make the most of their entrepreneurial skills; and to be part of the rapid economic growth in post war Sri Lanka.
NDB Vice President and Head of SME and Retail Banking Raj Aboobucker said: “We at NDB Bank give strong attention to the microfinance sector. The launch of the ‘Divi Aruna’ loan scheme was aimed at this sector, to develop cottage industries with the main objective being livelihood development, bringing them into the banking sphere and to inculcate the savings habit. The main feature of this scheme is that the loans are granted totally free of any collateral.”
Previously, NDB ‘Divi Aruna’ was launched in the Jaffna, Batticaloa, Ampara, Matara and Trincomalee and Chilaw Districts, and has been a successful effort where repayments are prompt and regular.
This will also bring these communities to the mainline banking stream, and further obtain other banking facilities that will assist them at different stages in their lives.
NDB Bank plans rapid growth in the SME banking portfolio within the next few years.
As a pioneer in project lending and SME financing in Sri Lanka the bank has contributed immensely to this sector.
Having financially supported over 40,000 ventures and creating more than 600,000 employment opportunities islandwide, NDB Bank remains committed to further empowering the SME sector with the firm belief that an entrepreneurial culture is essential for the sustainable development of a nation.