CB documentaries to educate farmers on microcredit

The Central Bank of Sri Lanka will be filming two documentary dramas (docudramas) which are aimed to create public awareness on the issues related to microcredit, which has so far resulted in a number of suicides in rural areas.

 “The docudramas should make the public aware of the nature of issues of micro-credit and the requirement of being mindful in obtaining micro-credit to increase their income level,” the Central Bank said.

Over the past couple of years, several incidents of suicide have been reported from the Central Province and the war-torn North and Eastern Provinces, due to borrowers not being able to repay mounting debt and interest from micro-credit lenders. According to several studies, most of these loans to the low-income earners are used for consumption purposes, and that micro-credit lenders should provide loans and related services to improve the micro enterprises in rural areas.

The Central Bank has called for expression of interests (EOIs) from reputed docudrama directors or producers to create the 20 minute film, in both the Sinhala and Tamil languages.

The docudramas are set to highlight unethical and irresponsible lending conducted by micro financiers, how customers can identify ethical and fair lending services which meet their requirement and how to become a responsible borrower.

Further, the consequences of micro-credit related issues and complaints and grievance handling mechanisms will also be communicated to the public through 
the films.

The Central Bank has included a draft script on its website. 

Central Bank Assistant Governor Asoka Handagama is a popular writer and director.