The Commercial Bank of Ceylon has chosen Vavunathivu in the Batticaloa District as its second ‘Agri Modernisation Village’ in Sri Lanka, following the success of the Bank’s pilot Agri Modernisation Village programme in Mahilankadu in Kilinochchi.
Commercial Bank’s Agri Modernisation Village Programme is an ambitious, village-by-village mission launched to propagate technology in the agriculture sector, encompassing all areas of agricultural potential in the country. It involves facilitating access to advanced techniques such as transplanting, drone application, and climate-resilient crop varieties that lead to increased productivity and profitability; skills development and training; financial inclusion and access to credit via direct engagement with the Bank; improved livelihoods though better yields and access to new markets; sustainable practices that ensure the long-term viability of farmer lands; and community support and networking.
For the roll out of the programme in Vavunathivu, the Bank is partnering with the Faculty of Agriculture of the Eastern University of Sri Lanka and the Department of Agriculture of the Batticaloa District. The collaboration with academic and agricultural institutions to implement the programme fosters a valuable knowledge-sharing environment, the Bank said.
The initial phase of the Vavunathivu programme was a training session on transplanting paddy seedlings using machinery. The event saw the participation of farmers from the area including members of the Vavunathivu Farmers Organisation, university students, officials and agriculture experts in the Batticaloa area.
Among the eminent personalities that attended the event were Mrs J. J. Muraleetharan, the Government Agent, Batticaloa; Mr M. Parameshwaran, the Deputy Director of the Department of Agriculture; Dr T. Geretharan, Senior Lecturer at the Faculty of Agriculture of the Eastern University; Mrs A. Gayathri, the Additional Director of Agriculture; and Mrs N. Sathiyananthi, the Divisional Secretary for Manmunai West. Commercial Bank’s senior representatives included the Bank’s Regional Manager – Eastern Region Mr T. Kajaruban and the Manager of the Development Credit Department Mr W. T. C. Lasantha.
The Bank said events of this nature are designed to bridge the gap between traditional farming methods and innovative technologies that promise to revolutionise the agricultural sector, and to enlighten and stimulate the next generation towards smart agricultural practices.
Commercial Bank is the biggest lender overall to Sri Lanka’s small and medium enterprises (SME) sector and the second biggest lender to the country’s agriculture sector.
Commercial Bank is the first Sri Lankan bank to be listed among the Top 1000 Banks of the World and has the highest market capitalisation in the Banking Sector in the Colombo Stock Exchange (CSE). The Bank is the largest private sector lender, is a leader in digital innovation and is Sri Lanka’s first 100% carbon-neutral bank. Commercial Bank operates a strategically located network of branches and automated machines island-wide, and has the widest international footprint among Sri Lankan banks, with 20 outlets in Bangladesh, a fully-fledged Tier I Bank with a majority stake in the Maldives, and a Microfinance company in Myanmar. The Bank recently received approval from Dubai Financial Services Authority to establish a representative office within the Dubai International Financial Centre (DIFC) and is the first Bank in Sri Lanka to achieve this milestone, making a significant step towards broadening its global footprint. The Bank’s fully owned subsidiary CBC Finance Ltd. also delivers a range of financial services via its own branch network.
