Marking a significant milestone, DevPro signed a Memorandum of Understanding (MoU) with Alliance Finance Company (PLC) to Promote Innovative Financing for Inclusive Economic Development. The MoU was signed by the Executive Director of DevPro, Chamindry Saparamadu and the Deputy Chairman/Managing Director of AFC, Romani de Silva in the presence of officials from both organizations on 11th September.
DevPro, a value driven organization built on over 30 years of Oxfam’s legacy in Sri Lanka, leverages innovation and expertise in inclusive and climate-resilient market systems to drive systemic changes to shape sustainable and equitable economies. Over the past years, DevPro has worked extensively on building the profitability and resilience of women-led agri-based MSMEs across five provinces in targeted value chains such as dairy, cinnamon, pepper, cocoa, fruit and vegetables etc, promoting climate-smart agriculture and innovative digital technologies such as reservoir based automated water management technologies, blockchain-based index insurance platforms etc. DevPro also works on climate resilience, skills development, sustainable tourism guided by the core values of gender justice, inclusivity and community-driven development.
Alliance Finance Company PLC (AFC) is the oldest finance company in Sri Lanka and the first in South-Asia to receive the Sustainability Standards and Certification Initiative (SSCI) Certification of the European Organization for Sustainable Development. AFC currently operates with an asset base of over LKR 80 billion and 90 branch offices across Sri Lanka primarily serving the underbanked and unbanked segments of the society through a wide range of financial services and products including deposits/ savings, auto-leasing and lending primarily to the MSME sector in Sri Lanka.
The MoU reflects the commitment of both organizations towards the promotion of innovative financing for inclusive economic development by implementing joint projects and business models with scalable social and environmental impact, generating and disseminating research and knowledge products and capacity building on innovative financing leveraging the collective expertise, resources and networks of both agencies.
Speaking at the occasion, Executive Director of DevPro, Chamindry Saparamadu said, ‘Sri Lanka needs holistic approaches to strengthening the MSME sector, through sustainable models that link supply, financing, and market access. In todays, complex world, it is only through collaboration and partnership that holistic and sustainable transformations can be supported as no single agency possesses the knowledge, capacity and resources to do so on its own.’ Commenting on the partnership, the Deputy Chairman/ Managing Director of AFC, Romani de Silva said “our shared commitment to collaborative initiatives that create positive social and environmental impact makes this partnership with DevPro a natural fit. Together, we will work to build more effective value chains and an equitable ecosystem that drives sustainable development in the MSME sector.’
