JAT Holdings PLC, recently signed a Memorandum of Understanding (MoU) with the Housing Development Finance Corporation Bank of Sri Lanka (HDFC) to strengthen the organisation’s ‘JAT Pinthaaroo-Shilpee Abhiman’ program, which provides training and apprenticeships to wood craftsmen and professional painters across the country.
The signing took place at the JAT auditorium recently. Officials of JAT Holdings PLC, HDFC Bank and the National Apprentice Industrial Training Authority (NAITA) were present.
The ‘JAT Pintharoo-Shilpee Abhiman’ program, conducted in partnership with NAITA, allows aspiring wood craftsmen and professional painters to participate and obtain an NVQ Level 3 Certification on the correct and professional methods used for painting; with all expenses borne by JAT Holdings PLC.
JAT’s collaboration with HDFC Bank will further expand the programme’s offering, allowing its participants to obtain credit facilities for work-related matters and receive financial awareness education training from bank representatives, which will further improve their business acumen and skills.
The ‘JAT Pintharoo-Shilpee Abhiman’ program also stands as a unique, industry-first initiative which strengthens the financial credibility of wood craftsmen and professional painters,who traditionally do not have access to official credit facilities to further their business interests.
Founder and Managing Director of JAT Holdings, Aelian Gunawardene said, “JAT Holdings is proud to make history by further adding value to the ‘JAT Pinthaaroo-Shilpee Abhiman’ program together with HDFC, with the aim of financially empowering the painters of Sri Lanka. Training painters to be professionals was the basic premise on which I started JAT nearly 30 years ago. As a responsible corporate citizen, it is vital that we step forward to enhance the skill levels and create competent youth who can take the country forward.
“When these skilled individuals have access to credit facilities, they will have the opportunity to grow their business like never before, further elevating the current playing field in Sri Lanka,” he said.
Chairperson of HDFC Bank, Wasanthi Manchanayake said, “At HDFC, one of our objectives is to empower Sri Lankans with low financial capacities in rural communities, including SMEs and the self-employed. The Bank financially empowers thousands of SMEs and micro rural entrepreneurs, providing them with much-needed access to funding to finance their business goals and realise their dreams.
“The partnership with JAT Holdings aligns with this objective and we are hopeful that the wood craftsmen and painters will take advantage of this opportunity to boost their businesses,” she said.
As an outcome of this initiative, painters who receive JAT’s recommendation will have the opportunity to receive loans and design a credit delivery mechanism and loan recovery system. The loans can be used to purchase their painting equipment and working capital requirements. As part of the agreement, participants can take part in knowledge sharing training, capacity building, entrepreneurship development, financial literacy, credit clinic and recovery programs on a periodical basis and improve their financial prudence and business acumen.