Participates in harvest ceremony in Mahilankadu, Kilinochchi
The Commercial Bank of Ceylon recently returned to Mahilankadu in Kilinochchi – the Bank’s pilot ‘Agri Modernisation Village’ – to celebrate its success by participating in a harvest ceremony.
Mahilankadu is to be the prototype for an ambitious village-by-village mission launched by the Bank to propagate technology in the agriculture sector, encompassing all areas of agricultural potential in the country.
A team led by Commercial Bank Deputy General Manager – Personal Banking Mr Delakshan Hettiarachchi participated in the harvest ceremony at Mahilankadu, which was also attended by Kilinochchi Government Agent Mr S. Muralitharan, the Dean of the Faculty of Agriculture of the University of Jaffna Prof. K. Pakeerathan, the Regional Manager of the Central Bank’s Northern Region Mrs S. Paheerathy and the Asst. Commissioner of Agrarian Services Mr B. Thewadaran
Among the highlights of the event were traditional rituals to honor the spirits for the good harvest, demonstrations of some of the modern harvesting techniques introduced through the programme, speeches by key stakeholders on the progress and potential of the programme as a model for other regions, endorsements from farmers on how the programme has positively changed their practices and incomes, and the donation of a Multi Chopping Machine to the Faculty of Agriculture of the Jaffna University for use in its community training programmes.
Addressing the ceremony, Commercial Bank DGM – Personal Banking Mr Delakshan Hettiarachchi said: “Agriculture is not just an occupation in Sri Lanka, it is the heartbeat of our nation. Through innovation, unity, and determination, we can empower our farmers, uplift livelihoods, and secure a prosperous future for generations to come.” He said it is the hope of Commercial Bank that its Agri Modernisation Village programme would revolutionise the agriculture sector, and stimulate the next generation to embrace smart agricultural practices.
Professor K. Pakeetharan emphasised that the adoption of modern agro-technology has significantly reduced cultivation costs. Farmers no longer need to use weedicides, and the seed paddy requirement has decreased by 75% compared to traditional methods, he said. Furthermore, he noted that weed growth in paddy fields cultivated with modern agro-technology is minimal, allowing farmers to sell their harvest as seed paddy, thereby earning a comparatively higher income.
The different elements to be addressed by Commercial Bank’s Agri Modernisation Village programme include 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. Additionally, the collaboration with academic and agricultural institutions required to implement the programme fosters a valuable knowledge-sharing environment.
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. In 2023, the Bank lent Rs 231.655 billion out of the total loans of Rs 704.142 billion to SMEs, accounting for 32.89% of the total in value terms.
Commercial Bank is the first Sri Lankan bank to be listed among the Top 1000 Banks of the World and has the highest market capitalization in the Banking Sector in the Colombo Stock Exchange (CSE). The Bank is the largest lender to Sri Lanka’s SME sector, 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 Microfinance company in Myanmar, and a fully-fledged Tier I Bank with a majority stake in the Maldives. The Bank’s fully owned subsidiary CBC Finance Ltd. also delivers a wide range of financial services via its own branch network.
