HNB injects Rs. 20mn as grant fund to support 200 microfinance customers

Sri Lanka’s most MSME friendly bank HNB PLC, announced the launch of a Rs. 20 million grant fund to support 200 microfinance customers affected by the ongoing COVID-19 pandemic across the country.

The fund, established by the bank through the HNB Sustainability Foundation, will offer microfinance customers up to Rs. 100,000 to upscale their businesses and work towards achieving SME status. HNB will grant funds in two phases to chosen microfinance customers with a view to revive and continue businesses impacted by the pandemic.

“I am very pleased to announce the launch of this vital source of funding through our Sustainability Foundation in support of microfinance entrepreneurs. 2020 has been extraordinarily challenging for all and this initiative comes at a most opportune and appropriate moment when businesses across the island are seeking the capital necessary to restart work.

Our expectation is that our customers will make good use of this grant, for working capital, recapitalizing their business and get back on their feet. As we have worked with the microfinance sector for more than three decades and SME sector since our origins, we have come to understand that we need to scale up our support by providing them with the necessary financial assistance and literacy to uplift them from the grassroots to become a SME,” HNB Managing Director and CEO and HNB Sustainability Foundation Chairman, Jonathan Alles said.