14 December 2017 – LOLC Micro Credit Limited (LOMC), one of Sri Lanka’s largest microfinance providers, successfully concluded its annual ‘Isuru Diriya Sisu Upahara Scholarship Awards Ceremony’ at the BMICH recently. This year, the grand felicitation ceremony took place for the 8th consecutive year, awarding over 900 students who passed the 2017 national Grade 5 scholarship examination with flying colours.

The ‘Isuru Diriya Sisu Upahara Scholarship’ programme is LOMC’s most dedicated social responsibility initiative which recognises and awards high-achievers of the year five Scholarship Examination, conducted by the Department of Education. The scholarships are granted on both merit and financial need to the children of LOMC’s more than 450,000 customer base.

This year, LOMC awarded 979 scholarships including cash prizes and gifts of stationery, books, sports items and school shoes, investing approximately Rs. 10 million on the programme. During the official ceremony held at the BMICH, 264 students were awarded with scholarships to support their first steps into secondary school while the gifts and scholarships of the balance 715 students were delivered to their homes. The selection criteria for the Sisu Upahara Scholarship programme continues to be well structured and transparent extending the scholarships to well-deserving students.

Dr. Harsha de Silva, Deputy Minister of Policy Planning and Economic Development graced the ceremony as the Chief Guest. LOLC Group Deputy Chairman, Mr. Ishara Nanayakkara, LOLC Group Managing Director/CEO, Mr. Kapila Jayawardena, Executive Director of LOLC, Mrs. Kalsha Amarasinghe, and Director/Chief Executive Officer LOMC, Mr. Ravi Tissera were among the distinguished guests. Senior management members of LOLC, staff members, parents of students and well-wishers were also present.

The top three achievers of 2017, Somawathige Dinithi Asera Premarthna from Ratnapura, Willaddara Heellage Kavindu Madushan from Tangalle and Pasidu Methpriya Hewagama from Mathugama were recognised and presented with special gifts during the awards presentation ceremony.

Mr. Ravi Tissera, Director/CEO of LOLC Micro Credit Limited speaking at the award ceremony said, “When we commenced this programme in 2010, our main objective was to felicitate and provide support to children of our group loan customers. Throughout the past 8 years, our programme has successfully reached out to over 3,200 students covering all districts in the country. Over the years, Sisu Upahara has made a positive change in the lives of many people and has made a meaningful difference in their children’s future as well, giving them the opportunity to aspire for a better and brighter future”.

A subsidiary of the LOLC Group, LOMC is Sri Lanka’s only microfinance provider to have received the prestigious certification for Client Protection Principles. Since its establishment in 2009, LOMC has empowered, innovated and created livelihoods and made an enduring impact in many communities throughout the country. Backed by the LOLC Group, the largest non-banking financial conglomerate in Sri Lanka, LOMC has evolved to become one of the nation’s leading microcredit providers with a lending portfolio of Rs. 56 Billion along with a growing borrower base. By empowering the rising entrepreneurs to overcome the income disparities found at the grassroots level, LOMC continues to make a significant contribution towards poverty eradication and towards the overall socioeconomic development of the country. Today, LOMC’s unique business model which promotes sustainable development from within the rural based communities it works with is well accepted not only in Sri Lanka but in many other countries throughout Asia.