In its pursuit to enhance the livelihoods of local dairy farmers, Cargills Bank recently carried out a major Corporate Social Responsibility (CSR) initiative in the regions of Mahaoya and Mahiyanganaya. These areas were chosen as focal points for this initiative as they have long faced developmental challenges amidst low financial literacy and inadequate access to credit, along with below average productivity and limited access to affordable milk storage solutions.
Supporting rural farmers, Cargills Bank donated and distributed over 65 milk collection cans and conducted an educational programme on financial literacy and livestock management, in addition to financial support worth Rs. 100 million to farmers in the area. The results of these investments are tangible, with milk production increasing by over 50% for many of the participants subsequent to the support extended by the bank. In addition to enhancing productivity, the milk cans distributed through the Cargills Bank have improved milk preservation, helping to keep quality high as the milk makes its way to milk chilling centres operated by the Cargills Group.
The main sessions took place at the Mahaweli Training Centre, where a financial literacy training session was conducted by Cargills Bank’s Agri and Micro Finance Department. This session provided farmers with vital knowledge on how to manage their finances effectively, track their income and expenditure, and better harness business opportunities. Furthermore, in collaboration with government veterinary officers, a specialised workshop on improving dairy farming practices was also held, led by Veterinary Surgeon, Dr Anuja Meesearachchi of Mahaoya. This holistic approach was followed to ensure that farmers were equipped with knowledge about financial management and sustainable farming methods.
This initiative also marked a special occasion for Cargills Bank, as it was launched to coincide with the celebration of the bank’s 10th anniversary. The programme not only highlighted the bank’s commitment to financial inclusion but also underscored its role in driving sustainable development across rural areas. This initiative is also in line with Sri Lanka’s national aspirations of achieving dairy self-sufficiency by improving productivity and uplifting dairy farmers.
Senarath Bandara – Chief Executive Officer (CEO) of Cargills Bank explained, “We believe that progress is best achieved when everyone is empowered with the right tools and opportunities. Our CSR programme is a reflection of this belief, as we strive to uplift the lives of farmers in regions where financial support and inclusion has historically been scarce. With these knowledge-sharing sessions on financial literacy and farming techniques, together with financial and material support, we hope to contribute to the long-term success of these farmers and strengthen the overall rural agricultural economy. We also commend the commitment of our Kaduruwela Branch, who regularly travelled significant distances to support these communities for their financial requirements.”
Cargills Bank’s commitment to supporting rural farmers is longstanding. Over the past few years, the bank has disbursed more than Rs. 3 billion in loans to over 8,000 farmers in rural areas. The bank’s lending portfolio to this segment recently surpassed Rs. 1 billion, and the agriculture business model of providing finance and market access through the Cargills Group has been commended by the Central Bank of Sri Lanka for creating market opportunities and sustainable income to farmers, many of whom belong to underprivileged socioeconomic groups.
About Cargills Bank
With a vision to be Sri Lanka’s most inclusive bank driven by digital enablement, Cargills Bank is the financial services arm of the Cargills Group, providing a full range of banking and financial services. The Bank carries a National Long Term rating of A(lka) by Fitch Ratings Lanka.
In addition to branches, ATMs and digital banking channels, Cargills Bank accounts are also accessible through Cargills Retail outlets Islandwide with free cash deposits and withdrawals at Cargills Retail outlets courtesy of the supermarket banking service “Cargills Cash”.
Cargills Bank is headquartered in Colpetty in Colombo and maintains branches at Maitland Crescent, Maharagama, Old Moor Street, Wattala, Kandy, Peradeniya, Nuwara Eliya, Chilaw, Fort, Rajagiriya, Ratnapura, Thanamalwila, Matara, Galle, Kurunegala, Kaduruwela, Vavuniya, Chunnakam, Jaffna Nawalapitiya, Negombo, Anuradhapura and Bandarawela. The Bank’s branch network is bolstered by 30 Cargills Bank MINI service points located within selected Cargills Food City outlets that carry out banking functions such as account opening and customer support.
