Nestlé Lanka partners Commercial Bank to boost sustainable dairy farming

SRI LANKA – Nestlé Lanka and the Commercial Bank of Ceylon have teamed up to boost sustainable dairy farming in Sri Lanka.

The collaboration is set to provide dairy farmers with concessional financing, allowing them to expand operations and increase milk yields while adopting regenerative agricultural practices to cut greenhouse gas emissions.

To achieve this the partnership has introduced a value chain financing program to support Sri Lankan dairy farmers.

As part of the initiative Commercial Bank, will focus on community development initiatives like enhancing financial literacy and technical awareness among dairy farmers, uplifting their livelihoods and promoting sustainable farming practices.

Through this collaboration, they aim to positively impact nearly 300 dairy farmers’ livelihoods and the environment, with 25 farmers benefitting from the initial phase rollout.

Bernie Stefan, Managing Director of Nestlé Lanka, reaffirmed their dedication to “Unlocking the power of food to enhance quality of life for everyone, today and for generations to come.”

“In line with our steadfast commitment towards developing Sri Lanka’s dairy industry, we consistently help our farmer network to build a livelihood that is both profitable and sustainable,” he said.

“We are excited to work closely with the Commercial Bank of Ceylon on this financing programme, to not only support in uplifting the livelihoods of our dairy farmers but also have a positive impact on the planet.”

In addition, he noted that the initiative aligns with Nestlé’s broader goal of achieving net-zero emissions by 2050, showcasing their commitment to sustainability and responsible business practices.

Sanath Manatunge, Managing Director/CEO of Commercial Bank, stressed the bank’s role in stimulating economic growth and promoting self-sufficiency in agricultural produce.

“As Sri Lanka’s largest private bank, Commercial Bank recognizes the importance of inclusive financing solutions for rural communities in agriculture and livestock.”

He added that the collaboration with Nestlé Lanka aims to address financial disparities in underbanked and unbanked communities, providing access to formal financial systems and fostering competitiveness.

Notably, he highlighted that by combining Nestlé’s expertise in sustainable farming with Commercial Bank’s inclusive financing, the partnership aims to create a resilient and prosperous dairy industry in Sri Lanka.

“Together, we envision a future where dairy farming thrives in harmony with the environment, benefiting farmers, consumers, and the planet.”

Subscribe to our food and agriculture industry email newsletters that provide busy executives like you with the latest news insights and trends from Africa and the World. SUBSCRIBE HERE

Newer Post

Thumbnail for Nestlé Lanka partners Commercial Bank to boost sustainable dairy farming

Washington-based company recalls goat milk product over infant nutrition concerns

Older Post

Thumbnail for Nestlé Lanka partners Commercial Bank to boost sustainable dairy farming

Nigeria pursues increased milk production amid global supply concerns

Be the first to leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *