7 February 2024 03:05 am Views - 201
Lanka Impact Investing Network Chairman Chandula Abeywickrema (sixth from right) exchanges the MoU with Hatton National Bank Deputy General Manager SME and Microfinance Rajive Dissanayake in the presence of (from left) Hatton National Bank undergraduate trainee Janani Gamage, Junior Executive SME Division Shehan Fernando, Senior Manager Business Banking Dimitri Jude Pillai, Head of SME Products and Partnerships Nithiyanatham Kethiswaran, Lanka Impact Investing Network General Manager Vishwanath Gunawardena and Executive Business Development and Partnerships Supeshala Samarawitharana
The National Advisory Board for Impact Investing in Sri Lanka (NABIISL), operating under the auspices of Lanka Impact Investing Network (LIIN), has joined forces with Hatton National Bank PLC (HNB), a leading banking institution committed to fostering economic growth. The collaboration aims to identify and support small and medium-sized enterprises (SMEs) for equity investments through the Social Enterprise Fund (SEF), marking a significant milestone in the development of Sri Lanka’s impact investing ecosystem.
The memorandum of understanding (MoU) formalising this strategic partnership was signed by LIIN Chairman Chandula Abeywickrama and HNB Deputy General Manager SME and Microfinance Rajive Dissanayake.
Sri Lanka’s pioneering impact investment firm LIIN is dedicated to directing private capital towards addressing critical social and environmental issues in the country. The collaboration with HNB aligns with LIIN’s mission and underscores the commitment to building a more dynamic impact investing landscape.
The establishment of the NABIISL, in partnership with the Global Steering Group for Impact Investing (GSG), further reinforces Sri Lanka’s position as a destination for responsible investments. The GSG’s presence in the country unlocks avenues for sustainable development and inclusive growth, appealing to both local and foreign investors.
The primary objective of the NABIISL is to catalyse the growth of impact enterprises in Sri Lanka through financial support and the operation of the SEF. Initiated in 2018, the SEF, in collaboration with Capital Alliance Group and the United Nations Development Programme, is dedicated to providing capital to impact enterprises, enabling them to generate substantial social and environmental impact.
HNB, a key player in Sri Lanka’s banking sector, has a significant client base of SMEs seeking financial services and opportunities for growth.
The partnership between HNB and LIIN is strategically positioned to identify SME clients within HNB’s network prepared for equity investments through the SEF. The SEF focuses on supporting micro, small, and medium-level social entrepreneurs in the acceleration stage of their business life cycle. Dissanayake expressed optimism about the collaboration, stating, “HNB is committed to supporting the growth of SMEs and through this collaboration, we can contribute to creating a more sustainable and impactful business environment in Sri Lanka.”
In its initial phase, the NABIISL, acting as a knowledge hub, will provide essential awareness sessions, specialised expertise, personalised guidance and steadfast support to HNB throughout the process of identifying, nurturing and preparing SME clients for potential equity investments.
The MoU signing ceremony also featured the participation of Head of SME Products and Partnerships Nithiyanatham Kethiswaran and Senior Manager Business Banking Dimitri Jude Pillai.