National Microfinance Study of Sri Lanka: Survey of Practices and ...

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DZPDP/WHRDA credit operations commenced with the disbursement of loans to the value of SLR 467,000 through its wholesale credit partner – the RRDB Kurunegala. After, this initial disbursement this activity was discontinued and all subsequent loans were delivered through the SRFs in thirteen divisional secretariat areas. DZPDP reimbursed “IFAD loans” amounting to SLR 8,506,500 and loans (Provincial Council Funds) amounting to SLR 10,339,420. Therefore a total of SLR 18,845,920 was disbursed to the project implementing areas. The WHRDA as a savings and credit agency was found to be weak in its managerial and financial management with poor loan recoveries and the ‘on time repayment ratio, was reported as 60% by September 1997. The WHRADA also failed to meet the credit issue targets given by the project and its funding by the project was terminated late in 1997. As the reimbursement of loans was stopped by NWP/DZPDP in September1997, the WHRDA was compelled to re-lend the loan recoveries by operating the Revolving Loan Fund as it was permitted to keep loan repayments from the initial funds given (SLR 8.5 million) and to continue operating the RLF to issue further loans. This action appears to have positively stimulated the WHRDA and the amounts available in the RLF have been used for the expansion of credit facilities to the beneficiaries in the project area from 1997 to 2000 with some SLR18.8 million being disbursed by the year 2000 through revolving the original SLR8.5 million. The on time repayment ratio has improved to 92% as of September 2000 and most of the earlier arrears recovered. The WHRDA has applied to the project for re-instatement as a credit agency. The main strength of the credit delivery system was the participatory role played by the SRFs and village SRSs at the grassroots level with the weakness that there was an over-emphasis on credit disbursement to the detriment of building a fully rounded Microfinance system. Savings funds were not fully utilised as credit and the WHRDA as a government agency could not mobilise savings for credit purposes. 105
Table 16 IFAD Partner Agencies - Loans delivered 1994 –2000 Partner Agency/ Ds Area RRDB – Kurunegala Mahakubukkadewela. Puttalam Kaluwaragaswewa. SRF-Puttalam Anamaduwa Puttalam SRF Nawagattegama. Puttalam SRF Pallama Puttalam SRF Kotawehera Kurunegala SRF Rasnayakepura, Kurunegala SRF Mahawa. Kurunegala SRF Galgamuwa Kurunegala, SRF Giribawa Kurunegala SRF Kobeigane, Kurunegala SRF 13.Nikaweratiya,K urunagala, SRF 14. Polpitigama, Kurunegala SRF Long-Term (3 year) Self- Employment (SLR) Medium- Term Agro-Wells (SLR) Short-Term Agriculture (SLR) Total (SLR) 300,000 25,000 142,500 467,500 1,382,000 --- 47,000 1,429,000 272,000 --- 86,000 358,000 852,000 115,000 73,500 1,040,500 581,500 25,000 272,000 878,500 1,182,000 25,000 --- 1,202,000 2,850,500 35,000 589,500 3,465,000 3,129,920 50,000 129,000 3,308,920 609,000 65,000 220,000 894,000 824,000 40,000 120,000 984,000 615,000 --- 390,000 1,005,000 103,000 --- 79,000 182,000 1,250,000 100,000 569,000 1,919,000 823,000 75,000 799,500 1,697,500 Total 14,773,920 555,000 3,517,000 18,845,920 _______________________ 106
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National Microfinance Study of Sri
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(b) Lenders .......................
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Introduction into the pawning busin
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Microfinance Overview .............
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Savings ...........................
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List of Tables Table 1 Microfinance
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Table 70 Ratnapura District Microfi
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JBIC MFI MFN MIS MPCS MSME NCPPDP N
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Figure 1 Map of per Capita Value of
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Figure 3 Map of per Capita Value of
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Executive Summary This report provi
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Practitioner Microfinance Activity
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As a result the banks are moving aw
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The operating conditions of the con
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Donor Strategies There should be a
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Introduction to the Study The objec
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The survey does not claim to repres
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Introduction Socio-Economic Overvie
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These five years saw a spate of new
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The 'Economic Stream' Employment is
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Microfinance Clients and Beneficiar
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1. Funders of Microfinance in Sri L
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CIDA believes that microfinance act
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The Department For International De
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NOVIB Partnerships tend to be long
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HIVOS The HIVOS Desk concentrates o
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Over time SIDA noted that the loan
Page 56 and 57: Comment freely given from one of th
Page 58 and 59: the time period of the project, wit
Page 60 and 61: Only a very small part of the US 50
Page 62 and 63: The demand for loans from this fund
Page 64 and 65: Without permanent access to institu
Page 66 and 67: This broad strategy means that the
Page 68 and 69: Beneficiary targeting was generally
Page 70 and 71: The FCSs were developed the followi
Page 72 and 73: CARE's new strategy commits the org
Page 74 and 75: Each CBO determines the level of in
Page 76 and 77: The project’s overall approach re
Page 78 and 79: Figure 6 GTZ/JRP - Project Interact
Page 80 and 81: The Social Development Foundation F
Page 82 and 83: There are no sector-based quotas ap
Page 84 and 85: Over the past five years SCN has as
Page 86 and 87: UNDP in the North & East - The Jaff
Page 88 and 89: In December 2001 a new UNDP Program
Page 90 and 91: From previous experience and lesson
Page 92 and 93: World Vision Lanka WVL believes tha
Page 94 and 95: Membership Development 3500 3000 25
Page 96 and 97: Table 14 World Vision - Gramashakth
Page 98 and 99: ZOA works with community groups in
Page 100 and 101: At the village society and bank lev
Page 102 and 103: In Wayamba the sustainability of th
Page 104 and 105: Table 15 Badulla IRDP - Summary Dat
Page 108 and 109: In the initial years they did not f
Page 110 and 111: Table 18 SPRDP- Loans 1993 to 1999
Page 112 and 113: (c)Lender-Practitioners The Central
Page 114 and 115: Society members have access to cred
Page 116 and 117: The RDBs were re-structured in 1998
Page 118 and 119: Table 25 Value of Loans Disbursed b
Page 120 and 121: The total savings and credit issued
Page 122 and 123: Table 29 Samurdhi - Loans by Distri
Page 124 and 125: In 1998 SEEDS converted to a separa
Page 126 and 127: Within the loans from SEEDS funds t
Page 128 and 129: The Arthacharya Foundation practice
Page 130 and 131: The program was assisted by some li
Page 132 and 133: However in general the majority of
Page 134 and 135: Table 33 Growth of MPCS CRBs -1990
Page 136 and 137: As at the end of December, 2000 a s
Page 138 and 139: Some 1,176 of the 1,476 Co-operativ
Page 140 and 141: A total of 74 NGOs were identified
Page 142 and 143: Finally only a small proportion of
Page 144 and 145: Table 38 TCCS Active Societies and
Page 146 and 147: District Unions - National Federati
Page 148 and 149: 4. Facilitators a) National Level F
Page 150 and 151: International Centre for the Traini
Page 152 and 153: Funder-Practitioner Microfinance Ac
Page 154 and 155: As practitioner experience increase
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Introduction and Approach The major
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State-Owned Banks The Bank of Ceylo
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Starting in 1994, the NCRCS is aime
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The Seylan Bank The Seylan Bank ent
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Figure 9 Linking of the RBIP Tools
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People's Fast reduces loan processi
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In addition, RBIP monitors the impl
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The Hatton National Bank Case Study
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Seylan Bank Case Study The Seylan B
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Until 1961 private pawnbrokers were
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Bank officials stated that PSC staf
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The urban PSCs have on average more
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The lack of flexibility has induced
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From the borrowers perspective not
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The Peoples Bank, on the other hand
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Introduction and Approach Internati
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Displaced populations are dependent
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Large tracts of land have become to
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Public markets, shops, guest houses
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The previous thriving local economy
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The Wanni Access to the area known
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Remembering that these intervention
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This type of situation is seen thro
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People IDPs in welfare centres, sho
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World Vision has been working in al
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small entrepreneurs have received t
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The exception to this is a governme
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There has been some continued acces
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Introduction and Approach A distric
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The MPCSs were equally disrupted an
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The main body of the survey is pres
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Local NGOs 11 NGOs were identified
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Local NGOs 1 NGO was identified in
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Local NGOs 1 NGO was identified in
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Local NGOs 2 NGOs were identified i
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Local NGOs No NGOs were identified
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Gampaha District Microfinance Overv
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Hambantota District Microfinance Ov
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Jaffna District Microfinance Overvi
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Staring in 1998 each DS received SL
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Matale District Microfinance Overvi
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Matara District Microfinance Overvi
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Moneragala District Microfinance Ov
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Nuwara Eliya District Microfinance
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Polonnaruwa District Microfinance O
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Puttalam District Microfinance Over
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Ratnapura District Microfinance Ove
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Trincomalee District Microfinance O
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Vavuniya district Microfinance Over
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The Wanni Area Microfinance Overvie
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Summary Microfinance Activity by Ac
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The NGO questionnaire survey identi
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World Vision Lanka works in 5 distr
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Given that these figures do not inc
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Overall, 13 of districts had levels
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Averages Value of Loans Table 78 Av
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Volume and Number of Loans The surv
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Findings The key and main findings
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Service Providers The service provi
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those incapacitated by conflict, wi
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Cultures of Dependency in Microfina
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Strategic Recommendations The key s
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Conclusion The study found that the
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Charitoneko, S. and D de Silva (200
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Remenyi, J (1991). Where Credit is
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Technical Appendix
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