JICA partners with HNB for sustainable socioeconomic development in Sri Lanka

JICA Senior Representative Ide Yuri, JICA Chief Representative Yamada Tetsuya, HNB Deputy General Manager Wholesale Banking Group Damith Pallewatte and HNB Head of Institutional Banking Natasha Hay

Working towards a shared objective of sustainable socioeconomic development in Sri Lanka, the Japan International Cooperation Agency (JICA) has partnered with Sri Lanka’s largest leading private sector commercial bank HNB PLC.

Through the partnership, JICA – Japan’s Official Development Assistance (ODA) executing agency – will leverage its experience as a long-standing development partner to the island nation and HNB’s broad expertise and islandwide branch and customer network to solve social issues by enhancing economic development and poverty alleviation and driving socially responsible, environmentally sustainable finance.

The partnership will help focus resources into agriculture, dairy production, value chain financing, women’s entrepreneurship development, MSME development and digital transformation. Moreover, the collaboration will also prioritise investments into enterprises and initiatives with the potential to support mitigation and adaptation to global climate change and other critical social protection services.

“HNB is honoured to partner with JICA to support a sustainable, inclusive, grassrootsled revival of the Sri Lankan economy. The close friendship and shared respect between Japan and Sri Lanka has always been a source of strength for our nation and we take this opportunity to express our gratitude to JICA for partnering with HNB in our shared mission to drive progress on sustainable development,enhance livelihoods and modernise our nation’s economy from the grassroots up,” HNB Managing Director/CEO Jonathan Alles said.

Commenting on the significance of the agreement, JICA Sri Lanka Office Chief Representative Tetsuya Yamada said, “With this partnership, we will be able to expand our reach to more people, providing greater benefits and a stronger development impact through HNB’s wide network and expertise, which the JICA alone could never do. Particularly, incremental effect is expected for the empowerment of those people and enterprises who struggled as a result of the COVID-19 pandemic and economic crisis.

Through our joint efforts, we can help them to overcome their difficulties and get back onto a growth trajectory.”