GRI 203-1, 203-2, 3-3, 413-1

Financial inclusion

Financial literacy and inclusion empower rural communities by enabling effective financial management, accessing services, making informed decisions, and breaking barriers. It improves economic well-being, resilience, and participation in decision-making. CDB prioritises financial literacy and inclusion, empowering communities, and reducing poverty while fostering inclusive and sustainable development. Its business model combines sustainable practices, urban funding, and rural lending. Leveraging digital capabilities, CDB drives community-led sustainability, rural entrepreneurship, and resilience. With virtual operations, CDB reaches remote communities, providing digital financial services, and empowering team members to serve customers effectively. The net lending focus of CDB enriches lives in rural areas and addresses regional development imbalances, ensuring equitable growth.

	2022/23 Rs. Mn.	2021/22 Rs. Mn.	2020/21 Rs. Mn.	2019/20 Rs. Mn.	2018/19 Rs. Mn.
Lending portfolio	37,658	37,489	31,286	28,744	28,822
Deposit portfolio	18,039	14,586	10,119	10,931	13,302
Net lending excluding gold loan	19,620	22,903	21,167	17,813	15,520

Empowering entrepreneurship

Promoting entrepreneurship, particularly among Small and Medium Enterprises (SMEs) and women, is crucial for economic growth and social progress. SMEs drive innovation, create jobs, and stimulate local economies. By providing resources, mentorship, and opportunities, CDB enables them to thrive and challenge traditional norms. This empowerment leads to job creation, poverty reduction, and sustainable development. It promotes diversity, innovation, and competitiveness while strengthening communities. Moreover, empowering individuals fosters self-reliance, confidence, and economic independence. Prioritising the development of SMEs and women entrepreneurs ensures economic resilience, social advancement, and a more inclusive and equitable society.

Through the “CDB SMB Friday” initiative, the Company actively supported SMEs by showcasing them on social media platforms and providing access to the “patpat” digital marketplace. This platform has gained significant traction, with an average of 173,812 video views, effectively boosting the visibility of entrepreneurs through social media and the corporate website. Through SMB Friday 2.0, CDB continued to extend support to entrepreneurs beyond the Western Province by promoting their businesses on social media and offering them both a physical and digital marketplace through “patpat”.

Empowering women entrepreneurs

Despite the high literacy rate among women in Sri Lanka, only 32% are in the workforce and only 25% are SMEs. Empowering women entrepreneurs is of paramount importance as it promotes gender equality and women’s economic empowerment, enabling them to overcome socio-economic barriers and achieve financial independence. By fostering women’s entrepreneurship, CDB works towards unlocking their potential, creativity, and innovation, contributing to economic growth and development. Moreover, empowering women entrepreneurs leads to job creation, as women-owned businesses often generate employment opportunities for others in their communities. Additionally, women entrepreneurs bring diverse perspectives and ideas to the business world, driving innovation and enhancing competitiveness.

CDB empowers and provides support to women entrepreneurs through its core business activities, offering financial services such as new business start-up loans, expansion of ventures, and reinvesting profits to drive the growth of small businesses. Additionally, in its commitment to International Women’s Day 2022, CDB collaborated with patpat.lk to introduce CDB SMB Friday and the “patpat” marketplace specifically for women entrepreneurs associated with the Sri Lanka Army Corps for Agriculture and Livestock Development. This initiative aimed to showcase the services provided by CDB SMB Friday and the “patpat” marketplace, enabling these women entrepreneurs to access a digital marketplace and effectively reach their target market. We officially launched the “Viru Liya” web page on the ‘Patpat’ website to facilitate this digital marketplace for such talented women entrepreneurs.

CDB has completed the research on creating specific products for women’s empowerment and the product launch is expected to take place in the latter part of 2023.

Promoting employability of rural youth

Empowering rural youth and promoting their employability is a crucial aspect of them for their personal and community development. CDB recognises the significance of enhancing their skills and providing employment opportunities, enabling them to contribute to their local economies and break the cycle of poverty. This not only improves their livelihoods but also drives economic growth in rural areas. Additionally, by focusing on employability, CDB plays a crucial role in bridging the urban-rural divide, curbing migration to cities, and fostering sustainable development in rural communities. We strongly believe that investing in the employability of rural youth is an investment in their future, the prosperity of their communities, and the overall well-being of society.

CDB’s recruitment policy focuses on selecting youth from disadvantaged backgrounds at the grassroots level and nurturing their potential for higher positions within the Company. Internship and management trainee programmes are offered to passionate and ambitious young individuals, providing learning and career development opportunities. During the year under review, CDB expanded these programmes to reach youth beyond the Western Province, and 47% of the hires were from outside that region. Through these initiatives, CDB aims to empower talented young individuals from diverse backgrounds and regions, fostering their growth and advancement within the Organisation.

Promoting child health and well-being

The Autism Spectrum Disorder (ASD) can have a significant impact on individuals and their families. Improving the lives of individuals with ASD involves providing tailored support and interventions, such as early diagnosis, access to specialised therapies, and educational programmes. Training and awareness programmes for caregivers, educators, and the community help foster inclusion and support. Collaborating with support organisations, advocating for policies, and promoting research contribute to advancing knowledge and enhancing the quality of life for individuals with ASD.

A 2009 study in Sri Lanka found the prevalence of ASD to be 1.07% of the population, meaning that it affects 1 in 93 children between 18 and 24 months. To address this issue, CDB initiated the Autism Awareness project in collaboration with the Sri Lanka Association for Child Development (SLACD) in 2015, with the aim of promoting early detection and timely intervention. Alongside raising public awareness about ASD, CDB set up a dedicated hotline at its Customer Care Centre to provide information and assistance. Additionally, a therapeutic play area was established at the Ampara District General Hospital in 2018 and the state-of-the-art “Pragathi” children’s intervention centre at the Teaching Hospital in Anuradhapura in 2019.

During the FY 2021/22, the Company made significant strides in intervention and awareness. CDB conducted a three-month awareness campaign for autism, adopting 26 doctor discussions and a standalone ‘Doramadalawa’ programme with doctors to educate and raise awareness for early detection. CDB’s primary initiative during the FY was commencing the construction of a fully-fledged autism intervention centre at the Karapitiya Teaching Hospital, designed in accordance with international standards. Scheduled to coincide with International Children’s Day in 2023, “The Centre” will open, covering the entire Southern province. The opening will be accompanied by a series of outreach programmes that specifically target the Southern province. To further enhance its impact, a mass media campaign predominantly utilising TV and social media will complement these outreach programmes.

By promoting child education and literacy, we break the cycle of poverty, foster economic development, promote social equality, and create an inclusive society.

Elevating child education and literacy

Sisu Diri Scholarship Programme

Child education and literacy in Sri Lanka, despite a 92.38% literacy rate, still lags behind the developed world. Education equips children with crucial knowledge and skills for personal growth and active societal participation. Literacy enables effective communication and expression. By promoting child education and literacy, we break the cycle of poverty, foster economic development, promote social equality, and create an inclusive society. The “CDB Sisu Diri” scholarship programme has supported over 800 students to pursue their education. 100 exceptional Grade 5 scholarship exam recipients received 5-year scholarships, while 50 high-achieving GCE Ordinary Level students were granted 2-year scholarships in the 14th season in FY2022/23. CDB remain committed to empowering the younger generation and ensuring uninterrupted access to education for a brighter future. In light of the rising cost of living and economic conditions during the year, the number of Sisu Diri scholarships awarded was increased from 100 to 150, in addition to increasing the scholarship amount for each scholar, which will be maintained in the future. This was done to facilitate quality education for scholarship holders.

CDB Smart Computer Lab project

With the aim of empowering the youth of Sri Lanka and equipping them with the necessary skills and competencies to thrive as global citizens, CDB implemented the “Smart Computer Lab” project, to provide access to state-of-the-art IT facilities. With the firm belief that information technology is a powerful tool that empowers the younger generation to seize opportunities in the world around them. To commemorate CDB’s 25th anniversary in 2020, CDB pledged to donate 20 Smart Computer Labs to underprivileged schools nationwide. To date, CDB has donated 14 Smart Computer Labs to disadvantaged schools in remote areas. In 2022, as the second phase of our commitment to providing 20 Smart Computer Labs, two state-of-the-art smart computer labs were presented to Atabage Udugama Maha Vidyalaya and Kuruwitenna Maha Vidyalaya, located in the Central and Uva Provinces respectively. Progress of this programme has been hindered due to import restrictions and the difficulty in sourcing equipment. However, we intend to speed up the process as conditions return to a semblance of normalcy. Going forward CDB targets to set up computer labs in Polonnaruwa and Batticaloa districts.

Encouraging team member volunteerism

Team member volunteerism holds significant importance as it brings numerous benefits to both individuals and the community. Firstly, it fosters a sense of social responsibility and empathy among team members, encouraging them to contribute to the betterment of society. Engaging in volunteer activities allows employees to connect with and understand the needs of their communities, promoting a sense of belonging and civic engagement. Additionally, team member volunteerism enhances teamwork and collaboration within the workplace, as employees work together towards a common goal outside of their regular job responsibilities. Moreover, volunteering provides personal and professional development opportunities, allowing employees to develop new skills, gain diverse experiences, and broaden their perspectives. Lastly, team member volunteerism enhances the reputation and corporate social responsibility of an organisation, positively impacting its relationship with stakeholders and the community at large.

Investments in Social initiatives in 2022/23

GRI 203-1

Description	2022/23 Mn.
“Act Early for Autism”	8.8
SMB Friday	0.2
Sisudiri Scholarship Programme	9.5
CDB Smart Class Room	2.1
Total	20.6