LOLC Micro Credit Ltd (LOMC), the largest microfinance company in Sri Lanka and subsidiary of the LOLC Group, held its 5th annual “Isuru Diriya Sisu Upahara” felicitation ceremony for Grade 5 scholarship students yesterday (4th September 2014), at a grand ceremony held at the BMICH Colombo. This program is held annually to felicitate children of LOMC customers who scored top marks at the national Grade 5 scholarship examinations.A total of 750 students were felicitated under this program for this year, out of which 212 students were provided with scholarships and gifts at the official ceremony held at the BMICH. 538 students living in far rural areas received their gifts personally from LOMC officials.Mr. Ajith Nivard Cabraal, Governor of the Central Bank of Sri Lanka graced the event as Chief Guest, while Mr. J. P. R. Karunarathne, Director, Department of Supervision of Non-Bank Financial Institution also attended as the Honoured Guest.
Special Invitees, LOLC Directors; Chairperson, Mrs. Rohini Nanayakkara; Deputy Chairman, Mr. Ishara Nanayakkara; Group Managing Director/CEO, Mr. Kapila Jayawardena; Executive Director together with LOMC officials, Director/Chief Executive Officer, Mr. Ravi Tissera; Chief Operating Officer, Mr. Rohana Kumara and members of LOLC senior management, staff members, parents of students and well-wishers were also in attendance.Top achievers, Lasindu Deshan Pathirana from Divulapitiya, Yohan Randika Fernando from Kuliyapitiya and Dinuka Malith Sandeepa from Mathugama obtained 191, 189 and 187 marks respectively.Commenting, Mr. Ravi Tissera, Director/CEO of LOLC Micro Credit Ltd said, “For 5 consecutive years, LOMC has felicitated exceptional educational achievements of our microfinance customers’ children. During these years, we provided scholarships to over a thousand students from diverse communities across the country. By being a financial catalyst to rural micro entrepreneurs, the Company made significant strides in bringing positive transformation to thousands of men and women across Sri Lanka. Isuru Diriya Sisu Upahara thereby, is an extension of such an endeavor to their children, whilst providing educational assistance to communities in which they live.Also, commenting, Mr. Rohana Kumara, COO of LOLC Micro Credit Ltd said, “This is not just another CSR program but a long term holistic initiative to bring prosperity to people’s lives and to ensure that their right to socioeconomic development is fulfilled. LOMC’s unique triple bottom line business model cohesively integrates business with social development enabling economic empowerment of grass roots women and alleviating poverty among low income families. In addition, the Company has been successful in encouraging sustainable agro farming, promoting the continuity of education among children from low income families, ensuring long-term community development and providing employment opportunities to youth, among others.Inaugurated in 2009, LOLC Micro Credit, with the financial strength of renowned overseas Development Finance Institutes and the support of the LOLC Group, rose among Sri Lankan corporates as the largest microfinance solutions provider dedicated towards uplifting the low income segment of the country. The Company has also been the first and only Sri Lankan microfinance institute to be awarded with the certification for Client Protection Principle. With a disbursement portfolio of Rs. 23bn and a growing borrower base reaching 230,000, the Company has gained success and recognition both at home and overseas.