Society

GRI 102-12, 103-1, 103-2, 103-3, 413-1

Financial inclusion

Our business model combines urban funding and rural lending and is fused with sustainable practices. Combined with our net lending position to the rural economy, we are placed as a conscientious and formidable leader in the financial services industry, enriching the lives of the poorest and marginalised people in thick rural areas. We use our digital capabilities to drive community-led sustainability, encourage rural entrepreneurship and build capacity and resilience in rural communities. This helps us to address the inequalities, social exclusion, and marginalisation of various societal groups. We have developed our internal tech capabilities and digital platforms to promote financial inclusion. We have increased the number of virtual operations to 69. They have become a conduit to reach remote communities and seamlessly serve customers in remote areas. Our marketing officers have been empowered to onboard customers digitally and deliver a range of financial services at the customer’s doorstep.

Net lending position of CDB outside the Western Province

Promoting employability of rural youth

Our recruitment policy is to recruit youth from humble backgrounds at the grassroot level and groom them to take on higher positions in the Company. We provide learning and career development opportunities to passionate and dynamic young people who have the aspiration to succeed through our internship and management trainee programmes. During the period under review, internship and management trainee opportunities were extended to youth outside the Western Province and 53% of new hires were from outside the Western Province.

Empowering entrepreneurship

Through the CDB SMB Friday initiative we have promoted small and medium scale businesses by featuring them in our social media platforms in addition to providing them a digital marketplace via patpat marketplace.

The platform which draws an average of 35,000 views for a video, helps to increase the visibility of entrepreneurs through social media and our corporate website. As the second phase of CDB SMB Friday, SMB Friday 2.0 was launched in FY 2020/21 to support entrepreneurs especially outside the Western Province, by promoting them on social media to enhance their digital visibility whilst providing a physical as well as a digital marketplace through patpat marketplace.

Empowering women entrepreneurs

We believe women empowerment is crucial for inclusive economic growth, gender equality, and the eradication of poverty in Sri Lanka. We support and empower women through our core business of extending financial services, including loans to start new businesses, expand existing ventures, and reinvest returns to spur the development of small businesses.

Furthermore, in commemoration of the International Women’s Day 2022, we introduced CDB SMB Friday and patpat marketplace to women entrepreneurs of the Sri Lanka Army for Corps of Agriculture and Livestock. This was conducted in collaboration with patpat.lk to demonstrate the services offered by CDB SMB Friday and patpat marketplace to uplift their businesses by creating a digital marketplace to promote their businesses via digital platforms in order to successfully approach their target market. The “Viru Liya” web page of the patpat website was officially launched to create a digital marketplace for these respective women entrepreneurs.

During the period under review, 34% of our lending was extended to women entrepreneurs.

Promoting child health and well-being

As per 2009 statistics, one out of 93 children born in Sri Lanka were diagnosed with the Autism Spectrum Disorder (ASD). Therefore, in 2015, we launched the Autism Awareness project in collaboration with the Sri Lanka Association for Child Development (SLACD) to promote early detection and timely intervention. Furthermore, in addition to raising public awareness about the condition, we established a hotline at the CDB Customer Care Centre from which interested parties can obtain information and assistance. A therapeutic play area was constructed in the Ampara District General Hospital and a state-of-the-art “Pragathi” children’s intervention centre was established at the Teaching Hospital, Anuradhapura.

During the year under review, we made progress in terms of both intervention and awareness. In collaboration with the SLACD, we committed to construct two Autism Intervention Centres in Badulla and Karapitiya Teaching Hospitals. A total of 26 specialist discussions were held to spread awareness on ASD, including a special “Doramadalawa” session on national television and radio channels at an investment on airtime worth of Rs. 52 Mn. Furthermore, these specialist discussion materials (off air clips) were made available to the SLACD to further spread awareness on ASD. These specialist discussion clips were posted on the SLACD social media (Youtube) channel and also played on the television screens at the clinics.

A special video series on success stories of children with Autism of the Pragathi Childrens’ Intervention Centre in Anuradhapura was streamed via social media platforms to spread awareness on the importance of early detection and intervention. Moreover, an exclusive bilingual specialist discussion on ASD was streamed on social media to further enhance awareness on Autism. Further, we established a financial assistance scheme for needy families with children with ASD through a contribution scheme from our staff members and customers.

Elevating child education and literacy

Sisu Diri Scholarship Programme

We strive to create an equitable society by supporting the human capital development needs of Sri Lanka. We believe that access to quality education, which is a fundamental right of every child is the solution to many economic and social problems in our Nation.

To uplift the Children’s education, we have been continuing the CDB Sisu Diri scholarship programme for the past 13 years and season 13 of the scholarship programme was successfully concluded in December 2021. A total of 100 scholarships were awarded to deserving students for their academic excellence through a virtual event. 60 scholarship recipients who had excelled at the Grade 5 scholarship examinations received scholarships for 5 years and 40 achievers of the General Certificate of Education Ordinary Level were granted scholarships for 2 years. Since its launch in 2008, we have been committed to empower the future aspirations of the younger generation by ensuring the continuation of their education devoid of disruption due to financial challenges. Over 700 students have been enabled to pursue their education through this scholarship programme.

CDB Smart Computer Lab Project

With the objective of empowering Sri Lanka’s youth with the necessary skills and competencies to become powerful global citizens, we have ensured access to state-of-the-art IT facility through our ‘Smart Computer Lab’ project. We believe IT is a great enabler to empower our young generation to optimise on opportunities in the world around them. Therefore, when we celebrated our 25th anniversary in 2020, we envisioned to provide 20 Smart Computer Labs to disadvantaged schools across the country. As the first step of the project, a fully equipped Smart Computer Lab inclusive of 10 computers and a smart board was provided to the WP/Jaya St. Josephs’ College, Kolonnawa in December 2021 to enhance access to quality education. Over the years we have already donated 12 Smart Computer Labs to disadvantaged schools in remote areas.

Team member volunteerism

We aim to inculcate a spirit of volunteerism and empathy in our team members towards the needy people in our communities by promoting community development and deploying social sustainability representatives across the island through CDB Hithawathkam. During the year, our employees distributed 1,500 essential packs to needy families during the pandemic worth Rs. 8 Mn.

Supporting our communities in time of need

We have continued to work closely with the communities in which we live and work to support them during the COVID-19 pandemic. As part of our continued assistance to strengthen the COVID-19 response in Sri Lanka, we donated essential medical supplies to the Ministry of Health and several hospitals in critical need. The medicines and equipment were donated at a time when our Nation was beginning to see a rise in number of cases and an increase in hospitalisation of COVID-19 patients. Our donations helped to treat and manage severe and critical cases of COVID-19 in Sri Lanka requiring oxygen therapy, ICU admission, and ventilator support. The total value of donations surpassed Rs. 50 Mn. Our COVID-19 support included:

• Donation of 5 oxygen concentrators worth Rs. 12.5 Mn. to the Ministry of Health.
• Provided monetary support worth Rs. 10 Mn. to the National Operations Centre for the Prevention of COVID-19 Outbreak (NOCPCO) to construct a Quarantine Centre in Maduru Oya.
• Donation of HDU beds, multi-parameters and a wall oxygen piping system to the Boossa Naval Base worth Rs. 8.8 Mn.
• Donation of an ICU monitor and ventilator worth Rs. 10.2 Mn. to the District General Hospital Gampaha.
• Donation of HDU beds and a wall oxygen piping system valued Rs. 1.25 Mn. to the District Hospital, Kandana.
• Donation of a wall oxygen pipeline to the Colombo East Base Hospital Mulleriyawa worth Rs. 2.85 Mn.

Priorities for 2022/23

We will continue to contribute towards the United Nations Sustainable Development Goals through our social sustainability initiatives. In our endeavours to empower women, we will launch an exclusive women’s product in the ensuing year.

Aligning with UN SDG 3, Good Health and Well-being, we are committed to uplift child health and well-being in Sri Lanka through our “Act Early for Autism” project. Under this programme, we intend to further increase awareness on ASD and also facilitate timely intervention by establishing an Autism Intervention Centre in Kandy covering the Central Province in the ensuing year. Moreover, we aim to continuously create awareness through traditional as well as digital channels by way of specialist discussions.

Aligning with UN SDG 4, Quality Education, we will continue to uplift child education and literacy in Sri Lanka through the CDB Sisu Diri Scholarship Programme and the Smart Computer Lab Project. We will launch Season 14 of the CDB Sisu Diri Scholarship Programme in the ensuing year whilst making progress in the Smart Computer Lab project. We will continue to encourage employee volunteerism by facilitating more employee volunteerism opportunities and establish new partnerships to achieve the goals.