Fostering Leaders for Tomorrow with “Sisu Upahara” LOMC, the microfinance company of the Group, launched the “Isuru Diriya Sisu Upahara” Scholarship Awards in 2010 and organised it during the year under review as well for the fifth consecutive year. With an investment of Rs. 6.3 Mn. it is probably the single largest CSR project by a NBFI in Sri Lanka. This program is recognised as 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 the economic empowerment of 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.
The program has a three pronged approach to encourage and develop the primary education of children from grass root communities. Firstly, LOMC facilitates skills development and exam preparation via educational programs and seminars for children identified from need-based communities, including those who are not necessarily children of the Group’s clients.
Secondly, the Company provides scholarships and rewards to high performing children of its micro and SME clients. Thirdly, the children together with their parents are brought to Colombo each year from all corners of Sri Lanka to be felicitated at a colourful awards ceremony graced by high level Executives of the Group as well as illustrious personalities from the Government sector.
A total of 618 students were felicitated under this program for this year, out of which 269 students were provided with scholarships and gifts at the official ceremony held at the BMICH. A further 349 students residing in far rural areas received their gifts personally from LOMC officials. Each child received a gift pack worth Rs. 15,000/- as well as a savings account with a deposit of Rs. 1000/-.