Hayleys, AgStar, John Deere, DIMO, CIC and Browns join Bank effort
The Commercial Bank of Ceylon recently brought together a coalition of some of the biggest names is Sri Lanka’s agriculture sector to conduct an ‘Agri Modernisation Fair’ for farmers in the Vavuniya area and introduce the latest technologies available to them and promote smart agriculture.
Industry leaders of the calibre of Hayleys, AgStar, John Deere, DIMO, CIC and Browns participated in the day-long fair, alongside representatives of the Drone Unit of the Agrarian Production Centre. The fair was attended by the students of the Agriculture School of Vavuniya, GCE Advanced Level students and teachers of Puthukkulam Maha Vidyalayam, members of farmer societies and entrepreneurs in and around Sasthirikoolankulam.
The Bank said the Agri Modernisation Fair served as a platform to introduce solutions that can mitigate challenges faced by farmers. The event included a lecture session focused on the economic aspects of modern farming, and provided practical insights on optimising resources, reducing costs, and improving profitability through the adoption of sustainable practices and modern technologies.
Among the topics covered was modern farming techniques used in paddy cultivation, including a practical session on the use of drones in the application of fertiliser, weedicide and insecticide. The involvement of leading companies in agriculture was crucial to demonstrate to the farmers that there is a wealth of resources and expertise available to support them in their journey toward modernisation, the Bank said.
The event showed farmers the solutions available to help them face challenges, such as the ever-increasing impact of climate change, the scarcity of labour, and the rising costs of farming inputs that have made it increasingly difficult for farmers to maintain their livelihoods. “As a bank that plays a pivotal role in the national economy, we understand the importance of supporting farmers in overcoming these obstacles,” the Bank said.
Earlier this year Commercial Bank conducted an awareness programme for more than 100 farmers in the North Central Province on the functionalities of drones in the modernisation of agricultural practices, via an awareness programme organised in collaboration with Mahaweli Authority of Sri Lanka.
Programmes of this nature are supported by the Bank’s 19 Agriculture & Micro Finance Units (AMFU) which play a key role in helping the Bank to identify specific needs of entrepreneurs who require assistance to develop either their agriculture activities or micro businesses. These units are dedicated to promoting agriculture lending and micro finance.
Commercial Bank’s Agriculture & Micro Finance Units are located in Ratnapura, Narammala, Nawalapitiya, Marawila, Anuradhapura, Kilinochchi, Bandarawela, Wellawaya, Hingurakgoda, Galewela, Achchuveli, Vavuniya, Chenkalady, Deniyaya, Tissamaharama, Udugama, Pottuvil, Elpitiya, and Akkaraipattu.
Sri Lanka’s first 100% carbon neutral bank, Commercial Bank is the largest private sector bank in Sri Lanka and the first Sri Lankan bank to be listed among the Top 1000 Banks of the World. The Bank is the largest lender to Sri Lanka’s SME sector, and is a leader in digital innovation in the country’s Banking sector. Commercial Bank operates a strategically-located network of branches and 974 automated machines island-wide, and has the widest international footprint among Sri Lankan Banks, with 20 outlets in Bangladesh, a Microfinance company in Nay Pyi Taw, Myanmar, and a fully-fledged Tier I Bank with a majority stake in the Maldives.