USAID Boosts Women's Banking at Sri Lanka's Union Bank

The United States, through the United States Agency for International Development's CATALYZE Private Sector Development (PSD) Activity, has provided funds to Union Bank in a groundbreaking agreement, boosting the bank's commitment to providing women-centric financial services.

This strategic collaboration intends to increase financial inclusion by addressing the special demands of female clients in the banking industry. The cooperation will do extensive market research, create a strong consumer value proposition, and form strategic alliances with Sri Lankan women and women-owned small and medium businesses (SMEs).

By increasing the availability and affordability of financial products for women-led SMEs (WSMEs), USAID is actively contributing to women's economic empowerment and general economic growth.

Key players in this transformative partnership include USAID CATALYZE PSD Activity Team Lead Juan Forero, Deputy Team Lead Delrene Seneviratne, Senior Sector Manager SME Competitiveness Inuri Illeperuma, Union Bank Senior Vice President SME and Transaction Banking Asanka Ranhotty, Vice President Marketing Thishani Dissanayake, and Chief Manager Development Financing and Business Revival/Rehabilitation Janaka Edirisinghe.

This partnership represents a significant step forward in expanding gender-inclusive financial services and boosting economic development for women in Sri Lanka.