Sampath Bank, recently entered into a Memorandum of Understanding (MOU) with Biodiversity Sri Lanka (BSL). In a significant change to typical conservation initiatives the MOU will allow each organisation to work in concert with other, state and private sector, partners towards the restoration of degraded fern land in Halgahawala, Opatha and the development of a biodiversity credit accrual system for Sri Lanka. The MOU was signed by Chairman – Biodiversity Sri Lanka, Dilhan Fernando, and Group Chief Human Resource Officer – Sampath Bank, Aruna Jayasekera.
The five year arrangement enables the Bank to fund BSL’s pilot project in the Kanneliya Conservation Forest and work closely with partners to monitor its progress based on ecological and biological indicators.
The project’s first phase has produced the biodiversity baseline and management plan for the degraded forest patch of 10ha in Halgahawala, Opatha.
The project will restore this patch of highly degraded rain forest using principles of restoration ecology to enhance its ecological functions, habitat quality, species diversity and its capacity to provide biodiversity and ecosystem services in close approximation to what prevails at the nearby rain forest.