PCCL has been preparing itself for a big change.
It might have been noticeable to you, our audience, as our posts, articles and tag lines hinted it all along.
The time has come to reveal the insights to the big change!
The big change is none other than the - worlds first decentralised sustainable microfinance ecosystem!!
Microfinance includes the provision of a wide range of financial services to the poor: savings, insurance, money transfers, and credit. Its legacy goes back to the 1970’s when it began as a series of small scale lending experiments in the villages of Bangladesh led by Mohommada Yunus.
According to an online article named ‘The rise and fall of microfinance’, microfinance is a miracle cure for global poverty due to its ability to unlock endless opportunities for the world’s poor population.
As one the world’s most high profile and generously funded development interventions microfinance brought about an unexpected extraordinary reduction in poverty.
With its start in 2013, PCCL has been part of the micro finance industry doing its role in enhancing the local community through various micro finance strategies. So far in our journey of microfinance by providing sustainable financial services to the local community who were financially deprived and unserved within Sri Lanka. We practiced customer protection principles (CPP), social performance management & sustainable initiatives. However despite our success we were not able to achieve the quantitative satisfaction scale-wise. We came to realise that a population of over 1.3 billion exists below the poverty line in addition to another 2.4 billon unbanked population which is financially deprived.
To address this concern we took a new step forward. We have gone form the domestic level to the global level. The small insignificant stance we were initially, we advanced beyond it to provide a bigger solution.
We have now joined hands with the decentralised network of the block chain technology and broken free from the bounds of the local market to provide a globalised solution through the world’s first decentralised sustainable microfinance ecosystem.
By Indrachapa S Jayasundera