LOLC Micro Credit Ltd. (LOMC), the microfinance company of the LOLC Group, successfully concluded its “Isuru Diriya Sisu Upahara Scholarship Awards Ceremony” at a gala event yesterday. Mr. Ajith Nivard Cabraal, the Governor of the Central Bank of Sri Lanka attended the ceremony as Chief Guest.

Held for the second consecutive year, “LOLC Isuru Diriya Sisu Upahara” recognizes the remarkable educational achievements of students who have excelled at the Grade 5 scholarship examination held this year. The specialty of this ceremony was that the students felicitated were children of LOMC’s group borrower clientele from rural grassroots.

Last year’s inaugural ceremony saw the participation of 40 children from various communities across the country. This year’s ceremony witnessed the participation of 230 children including those from the Northern region.

During this year’s ceremony, top 03 achievers, namely, H. Ruklanthi Tharushika from Nikaweratiya, G.A.H.K. Lankarathna from Horana and Satheskumar Dinosa from Vavuniya along with other notable performers were recognized and presented with special gifts. In addition, all children received special savings accounts with an initial deposit from Lanka ORIX Finance PLC as a reward for their notable educational performance.

In his welcome speech, Mr. Kapila Jayawardena, Group Managing Director/CEO said “Over the years, LOMC has experienced an exponential growth serving an ever expanding group lending portfolio of over 100,000 customers. LOLC Isuru Diriya Sisu Upahara goes beyond the traditional realm of a CSR project. By awarding scholarships, we have made it our priority to give these students the required impetus to further their future educational requirements. Therefore, this event is a special one, given that we are felicitating the sons and daughters of our own clients belonging to the group borrower segment.”

Adding further he said; “While providing total financial solutions for our customers to move up the value chain, we have also contributed to the development of our country’s educational sector. During the years 2010 and 2011, LOMC has conducted a series of scholarship exam preparatory seminars for over 3000 students from Divulapitiya, Trincomalee, Batticaloa and Gampaha areas, with the participation of a renowned panel of tutors from different educational establishments across the island. Through similar initiatives, we have sponsored the construction of computer labs and donated computer items to Tharmapuram Maha Vidyalaya in Kilinochchi and Attawilluwa Vidyalaya in Palaviya”

Commenced in 2009, LOLC Micro Credit Ltd has become the leading microfinance institution in the country. Its unique business model comprises of a triple bottom line approach backed by the financial strength and technical support of bilateral and multilateral funding agencies together with the support of its parent company, LOLC. Over the years, LOMC has become a catalyst for development to many entrepreneurially active men and women from the grass root level, low income communities across the country.