In 2003 LOLC ventured into Microfinance and has now already established itself as a leading microfinance provider in the country. The company started operations by providing Solar Home systems to the rural households and then expanded their services into Agriculture related Financing, Dairy Financing and three wheeler, tractor and motor bike loans in order to cater to the increasing demands of this sector. Apart from the expertise gained and a good understanding of the segment’s needs LOLC had the advantage of having extensive reach into the rural areas and the necessary infrastructure.
Dr. Peter Kooi, is a Dutch national, joined the Board Of directors of FMO in October 2000. Peter Kooi studied corporate finance and sociology at the Erasmus University in Rotterdam, the Netherlands. From 1993, he advised ACLEDA in Cambodia as a microfinance consultant over a period of seven years in its course from a development program into a commercial bank. From 1999, Peter Kooi worked as a short-term microfinance consultant for microfinance institutions and projects located mainly in Africa and Asia. From September 2002 until December 2005, Peter was Director of the Microfinance Unit of UNCDF in New York. Since then Peter works as a Resident Director of the Board of ACLEDA Bank. In 2008 he also became a Board member of ACLEDA Bank Lao in Lao PDR. He is a Graduate of the Australian Institute of Company Directors.
Mrs. Rohini Nanayakkara chairperson of LOLC Group welcoming Peter to the LOLC Micro Credit Ltd. board said “joining of Dr. Kooi is strength for us. His experiences in the field of Microfinancing will enable us to learn many lessons and make use of them for the development of the microfinance sector in Sri Lanka.”
Mr. Ravi Tissera CEO LOMC added ” LOMC would immensely benefit from years of experience in microfinance especially in Cambodia which is considered a best practices market in the world for microfinance.