LOLC Finance signs up for reforestation project | Sunday Observer

LOLC Finance signs up for reforestation project

30 July, 2022

LOLC Finance PLC (LOFC) entered into an agreement with Mathurata Plantations and Vibhawa Solutions (Pvt) Ltd recently, to concentrate on replanting the endangered and endogenous species in degraded natural forests and private lands to support the reforestation efforts to enrich the natural order.

The core target of this project is to plant 20,000 trees ranging from 12,000 fruit plantations, medicinal herb plantations to a few other selected native plants. The venture will be entirely funded by LOLC Finance, while Mathurata Plantations will be offering fifty acres of private land area for plantations, whereas the planting undertaking will be handled by ‘Thuru’, under Vibhawa Solutions.

The project, predominantly launched in the Deniyaya eco system, covers a fifty-acre land area belonging to Mathurata plantations, while five acres of land from Miyawaki forest and Butterfly gardens are also sheltered. In addition to the restoration scheme, a biodiversity study and a carbon setting mapping is also fused to the same project with the intention of further elevating the expression of the complete project outcomes.

The entire assignment will go on for a period of continuous 18 months with the treble partnership.

The official agreement signing ceremony between LOFC, Mathurata and Vibhawa Solutions was held at LOLC Holdings head office recently. 

Chief Operating Officer of LOLC Finance, Montini Warnakula,  Chairman and Non-Executive Director of Mathurata Plantations, and Chief HR Officer of LOLC Holdings, Pradeep Uluwaduge, Director Mathurata Plantations and Chief Financial Officer of LOLC Holdings, Sunjeevani Kotakadeniya,  Head of Finance of LOLC Finance, Buddhika Weerathunga,  CEO, Vibhawa Solutions, Heminda Jayaweera and COO, Vibhawa Solutions, Hasanka Padukka were present.