Sanasa Development Bank and Rabo Partnerships kicked off their multiyear strategic partnership to bolster SDB in becoming the go-to bank in Sri Lanka’s agricultural sector.
“My tea factory has much more processing capacity than we are utilizing now…” mentions the owner of a tea estate in Sri Lanka’s Southern region. He adds that “due to low yields of farmers the supply has been limited in the past years.”
Sanasa Development Bank (SDB) is well positioned to contribute to these key transitions and boost the agricultural sector in Sri Lanka. Formed by the country’s cooperative movement, SDB aims to contribute to the development of the country through their mission to “provide qualitative, innovative and competitive financial products, offered through client-friendly channels, with high accessibility through the country”. Through its 94 branches, SDB has been providing a steady and growing micro- and retail finance business in the last 20+ years. As such, the bank can play a unique role in financing the agricultural sector, not only through anchor clients, but also by supporting farmers further downstream in the value chain.
Being part of a bank with cooperative roots and a strong food & agriculture focus ourselves, we are proud to have partnered with SDB for the coming three years, and grateful for the support from both FMO and BIO in realizing this. As Rabo Partnerships (RP), we will accompany SDB in realizing their ambition to become the go-to agriculture bank in Sri Lanka, with inclusive (digital) products & services for its customers and strong internal capabilities.
This article was initially published by Rabobank.
