HNB Acting CEO, Damith Pallewatte (standing, fifth from left), HNB COO Sanjay Wijemanne (standing, fourth from left) and HNB CHRO K. Indravasan (standing, sixth from left) along with HNB Corporate Management and selected Microfinance Grant recipients (seated)

HNB PLC announced the return of its ‘Oba Venuwen Api’ Microfinance Grant for 2023/24, disbursing Rs. 5.2 million to 52 selected microfinance entrepreneurs.

The launch event of this year’s Microfinance Grant initiative took place recently at HNB Towers, with HNB Acting CEO Damith Pallewatte, COO Sanjay Wijemanne, CHRO K. Indravasan and other members of corporate and senior management from the bank. 

At the event, five entrepreneurs were awarded Rs. 100,000 each to strengthen their businesses and work towards achieving SME status.

Allocated across various sectors, including fisheries, construction, agriculture, engineering, farming, food processing, and manufacturing, this grant aims to empower individuals and sectors to enhance their productivity, invest in improvements, and sustain their livelihoods amidst economic difficulties. 

The grant seeks to mitigate issues afflicting SMEs, such as rising costs, limited access to credit, and the need to keep up with constant technological advancements while fostering economic resilience and growth in the affected communities.

“As Sri Lanka’s economic landscape begins to stabilize, this presents a pivotal moment for microfinance entrepreneurs to adapt, fortify, and scale their businesses. Beyond the bottom line, we at HNB are dedicated to empowering our customers and contributing to the nation’s progress, and we view initiatives like the Oba Venuwen Api Microfinance Grant programme as a strategic investment in the resilience and prosperity of Sri Lanka’s entrepreneurial ecosystem. 

“By providing them with the necessary resources and encouragement, we aim to equip these small business owners with the tools they need to overcome challenges and thrive. We are confident that our customers will maximize the potential of this grant, whether for bolstering working capital, recapitalizing their operations, or getting back on their feet after recent economic turbulence,” said HNB CHRO K. Indravasan.

The HNB Sustainability Foundation began the initiative in 2020/2021 to assist microfinance entrepreneurs in restarting and accelerating their businesses. Last year, HNB built on its support, disbursing Rs. 34.8 million to 348 entrepreneurs to empower this vital segment of Sri Lanka’s economy.