Sarvodaya Development Finance PLC
- Country
- Sri Lanka
- Technology
- N/A
- Business model
- MFI
AgriFI provides a senior debt of USD 3 million enabling SDF to hedge the FX risk via a local Sri Lankan bank. The financing aims at supporting the company to grow its agricultural portfolio, and especially the agricultural leasing product which enables farmers to access agricultural machinery such as tractors and harvesters at affordable rates and become owners via a leasing scheme, allowing them to strongly improve their yields and overall income.
Project overview
SDF is a licensed finance company acting as the economic arm of the Sarvodaya Movement, one of the oldest NGOs in Sri Lanka aiming at developing rural areas. It provides financial services, including leasing of income-generating assets, to societies, individuals & SMEs. It has 150,000+ customers, 57% being women, and 78% outside of the Western Province demonstrating its focus on rural financial inclusion. SDF has a strong focus on agriculture, which represents more than a third of its leasing and loan portfolios.