CSR of NLF is linked with our Micro Finance Strategy, and through our Micro Finance services, we provide many CSR strategies. We provide financial services, training and leadership programs focusing on empowering women. After three decades of war now over, Sri Lanka is moving forward with a emerging economy in every sector. This has given Nation Lanka Finance great opportunities in the Micro finance industry. In 2011 the Company expanded Micro finance projects with a scientific approach where Loans are granted only to women borrowers. Now the program maintains a 99% recover rate with every loan covered by loan protection insurance.
The new approach focuses on women where they undergo three weeks of training regarding the development of a new business, and then loans are granted to fund the new venture. This creates an opportunity to empower women to earn an income. This unique approach makes a huge impact on our society where more women participate to contribute to the GDP. Highly experienced and trained Nation Lanka staff are working on developing their business with them with weekly visits educating the customers various issues like marketing their product and the economics changes. With this unique approach in 2011 Nation Lanka Finance PLC expanded business activities to the every corner of the country including north and east. The company has lent over 625 Million Rupees towards the development of micro business.
We also develop rural leadership programs as a free service. We have already set up a specialized training department for this purpose in the Company which is a separate unit called the training and development unit. NLF is the only finance company that has this unit. NLF carries out Financial Literacy Program Island wide with the support of the Central Regional Development Department of the Central Bank. To date, we have completed 7 programs and hope to expand further island wide. This program educates people on financial literacy, rural development and leadership qualities conducted as a one-day program. In the micro model, we create groups in the villages with group leader. We carry out train the trainer program with the leaders being trained first who in turn will train their own members in the village. The Company provides this service free, with technical support from the Central Bank.
NLF has its own children education scheme called "Danumen Ediriata" under our Micro Finance. We select children that pass grade 5 scholarships from our Micro Finance customers and support them financially to complete their education.
NLF considers recruiting our national level players in the field of cricket, rugby and tennis. NLF is the main sponsor of Havelock Sports Club and through that we have developed rugby.