HNB revives pandemic affected MSMEs with Rs. 20 mn grant fund

Head of Micro Finance, Vinodh Fernando handing over funds to Micro Finance customer, M Nallavairan in the presence of (from left) Regional Business Head- North Western, Rajeev Perera, Udappuwa Customer Centre Manager, Suranga Mihidukulasuriya and Relationship Officer - Micro Finance Udappuwa Customer Center, Chaminda Kekulawela

HNB PLC has disbursed Rs. 20 million in grants to 200 micro entrepreneurs and businesses across the country, providing them much-needed support as they seek to rebuild their livelihoods from the devastation caused by Covid-19.
The timely intervention in support of HNB’s microfinance customersis part of the ‘HNB Oba Venuwen Api’ initiative launched by the bank to assist the country in recovering from the pandemic. 
The bank disbursed grants among 117 microfinance customers under the first phase of the initiative last year. Under the second phase of the project, HNB supported83 microfinance customers this year. “Both the human and the economic cost of the pandemic has been enormous and the brunt of this has been felt by small businesses and entrepreneurs,” HNB Managing Director and CEO and HNB Sustainability Foundation Chairman, Jonathan Alles stressed. 
“As a bank with a long history and extensive expertise in serving the SME sector, HNB is ready to partnerin the progress of entrepreneurs in their time of need.” These grants provide uptoRs. 100,000 to each beneficiary, for the purposes of reviving and continuing their business, re-affirming HNB’s enduring commitment to the Micro, Small and Medium Enterprise (MSME) sector.
 The grants are drawn from a fund established by HNB’s Sustainability Foundation and are provided in two phases to a selection of microfinance customers significantly impacted by the pandemic. The funds provided through the grants will be utilised primarily towards funding urgent working capital requirements, which had been severely depleted due to disruptions resulting from the COVID pandemic. The initiative is also one of several from HNB’s Sustainability Foundation aimed at delivering on the bank’s role as a leading corporate citizen.
The Foundation also focuses on fourstrategic pillars:  education, healthcare, empowering entrepreneurship and the environment.
With assistance from the bank’s Customer Centres across the island, the Foundation also undertakes location-based CSR projects involving the community and staff. 

Regional Business Head – North Central, Bandula Monnekulama handing over funds to Micro Finance customer, A. N Fernando in the presence of (from left) Relationship Officer - Micro Finance (Kuliyapitiya) Panduka Huruggamuwa and Head of Recovery- North Central Region, Asanga Ranasinghe