Sri Lanka

Sri Lanka

Establishment of an Entrepreneur Financial Centre in Sri Lanka (EFECS)

Start date: June 2016

End date: June 2021

Funding partner: Global Affairs Canada

Implementing partner: SANASA

Project description

This project was created to strengthen the SANASA network (Sri Lanka's largest cooperative financial group) and enable it to offer professional services to entrepreneurs in 4 of Sri Lanka's 9 provinces.

The project also aims to develop the capacities of 5,000 entrepreneurs, 3,000 of them women, through a range of non-financial services offered by various local entities of SANASA. The project also aims to support or create more than 350 micro, small and medium-sized enterprises, 150 of them led by women, which will create 875 new jobs.

The project's ultimate goal is to help entrepreneurs, mainly women, learn how to manage their finances and operations in a sustainable manner, while raising awareness among authorities on the important role of financial cooperatives.

Results as of December 31, 2018

  • Number of entrepreneurs coached: 680, 64% women
  • Number of insurance policies sold: 5,358 for rice
  • Number of SANASA employees trained: 343 (target: 250)