One of the main focuses of the bank is that of poverty alleviation. BOC has founded programmes in the two provinces through which they can help those below and just above the poverty line. Group mobilization programmes, and solidarity groups of 5-8 members work together over a three month trial period in which they focus on livelihood improvements with a low-interest micro-credit. Meetings, social activities and pre-determined weekly savings are all part of the programme. So far the bank has 2,000 groups in the North and 3,000 in the East.

BOC sees the potential in these areas and the importance of making the people bankable in order to uplift their living standards and make them a valuable asset to the Sri Lankan economy in the future. The social spectrum encompassed by BOC’s scheme is very wide, from women headed families in Batticaloa, to fishing communities in Arippu, cobblers in Vathiry, dairy farmers in Karadianaru, vegetable cultivators in Atchuvely, handloom craftsmen in Marathamunai, palmyrah tappers in Point Pedro and numerous other small entrepreneurial ventures throughout the North and Eastern provinces.

The bank has doubled and in some cases even tripled their short term agricultural loans for crop production. Perennial crops are another area for which the bank has put loans into place; medium to long term. This assistance provides for expanded gestation periods by aligning loan repayments with future cash flow. Farm mechanisation, expansion of irrigation systems, and fisheries and aquaculture are all areas the bank are supporting and aiding in the development of through low-interest credit.

With the immediate goal being the alleviation of poverty, BOC is also looking beyond this. Value chain management and the establishment of nucleus farm models which would bring new technologies, skills and attitudes, creativity, and a paradigm shifts are areas that are being looked at. Liquid milk production has huge potential in both provinces. As a goodwill gesture and an initial step in developing the dairy sector in the Jaffna peninsula BOC recently arranged the transportation of 20 high-bred cows to the area.

A Rs. 2.5 billion fund was given to the SME sector to assist on low-interest finance. Formerly there were over 1,000 SME’s in the peninsula, however, now only 30 remain, which is why the bank is aiding in reconstructing this sector.

Staff at the BOC branches in the North and Eastern provinces are all locals who are trained by the bank in all required fields. BOC is expecting to provide funding totalling on Rs. 10 billion for each province under the plan. The response so far has been enormous and C. Samarasinghe Deputy General Manager of BOC is happy with how the plan is going. There is a lot of potential in the North and Eastern provinces and BOC is helping to make this potential a reality.