SDB bank and Central Province Cooperative Development Department Sign MOU to Strengthen Cooperative Value Chain and Supply Chain Processes

In a significant step towards enhancing rural development through the cooperative movement, SDB bank has entered into a strategic partnership with the Central Province Cooperative Development Department. This partnership aims to strengthen the cooperative value chain and supply chain processes, and to bolster cottage industries by integrating traditional agriculture with modern technology. The goal is to develop innovative food products that cater to both local and international markets. 

SDB bank will support cooperative societies by providing financial backing, entrepreneurship development, financial advisory services, and training and development. These initiatives will be monitored through regular surveys to ensure sustainability and impactful outcomes. 

The Memorandum of Understanding (MoU) was signed at a recent launch event held at the Central Province Cooperative Development Department Auditorium. The event also showcased a range of new agro products developed by 12 cooperative societies under the initiative, including home-made soap, jackfruit biscuits, jackfruit flour, jackfruit seed flour, heenbovitiya powder, kithul flour, kithul pani, kithul hakuru, soya mixed dried mushroom with dried tomato dressings, and dehydrated vegetable packets. 

Another unique initiative launched under this partnership is the ‘Green Village’, which aims to promote sustainable tourism through the cooperative network. Selected cooperative outlets in tourist destinations, such as the Nanuoya Co-op outlet, will be upgraded with fully equipped open kitchens and dining areas. This will allow tourists to purchase fresh, organic products and prepare their own meals, thereby enhancing the tourism experience while supporting local cooperatives. The outlets will adhere to the Green Philosophy by implementing effective waste management systems using bio gas technology and recycling procedures. 

SDB bank is committed to supporting cooperatives as a vital component of economic development and through this strategic partnerships and innovative programmes, the bank aims to empower communities, foster entrepreneurship, and promote sustainable economic growth across Sri Lanka.

About SDB bank:

A future-ready bank, dedicated to offering customer-centric and comprehensive support tailored to each individual's needs, SDB bank is a licensed specialized bank regulated by the Central Bank of Sri Lanka, with a listing on the Main Board of the Colombo Stock Exchange and a Fitch Rating of BB +(lka). Through the network of 94 branches islandwide, the bank provides a comprehensive range of financial services to its Retail, SME, Co-operative, and Business Banking clients across the country. Environmental, Social, and Governance (ESG) principles are deeply ingrained in SDB Bank's ethos, with a steadfast focus on uplifting local communities and businesses through sustainable practices. The bank is particularly committed to promoting women's empowerment, sustainable development of SMEs, and digital inclusion, aiming to propel Sri Lanka to new heights.

SDB bank Team and Central Province Cooperative Development Department team.