Sarvodaya Development Finance to Enhance Client Protection Standards with Technical Assistance Funding from EDFI Management Company
Brussels, Belgium – 30 January 2025 – EDFI Management Company (EDFI MC) announces its support for Sarvodaya Development Finance PLC (SDF) through a new technical assistance initiative. This project aims to conduct an external assessment of Sarvodaya’s policies and practices against Cerise+SPTF Client Protection Standards, make recommendations to fill any gaps, with the ultimate objective to audit and certify the company.
EDFI MC technical assistance contribution amounts to USD 15 300 and is fully funded by the European Union. By supporting SDF’s strategic development, EDFI MC aims to strengthen the company’s sustainability and contribute to the advancement of client protection standards.
“We are excited to extend our support to SDF through this technical assistance project,” said Natalia Svarinska, Technical Assistance Specialist at EDFI MC. “This certification will help SDF to enhance institutional reputation and sustainability of the company’s operations.”
Nilantha Jayanetti, CEO of SDF added, “This initiative will significantly enhance our operational efficiency, and enable us to build trust and long-term client relationship with our customers. We are committed to continuous improvement, and this support will be instrumental in achieving our long-term goals.”
In 2024, AgriFI, an EU-funded agriculture financing initiative managed by EDFI MC, announced a USD 3 million loan to SDF. This investment aimed to support Sarvodaya in growing its agricultural portfolio, particularly the agricultural leasing product, which enables farmers to access agricultural machinery at affordable rates and become owners via a leasing scheme. This initiative has significantly contributed to SDF’s resilience and growth, especially in the agricultural sector.
About EDFI Management Company: EDFI Management Company is a multilaterally owned impact asset manager that delivers innovative development finance solutions. The company enables European DFIs, development banks, and private sector investors to increase the scale and impact of their work, focusing on business models, technologies, and geographies where other investors have not been able to operate at the desired scale.
About Sarvodaya Development Finance PLC: SDF is a Licensed Finance Company acting as the economic arm of the Sarvodaya Movement, one of Sri Lanka’s oldest NGOs dedicated to developing rural areas. With a focus on financial inclusion, SDF offers financial services, including leasing of income-generating assets, to societies, individuals, and SMEs. It boasts over 170,000 customers, with a remarkable 57% being women and 78% residing outside of the Western Province, highlighting its dedication to rural financial inclusion. Agriculture represents more than a third of SDF’s leasing and loan portfolios, demonstrating its strong commitment to the sector.
