Business
Hayleys Fentons launches “Roots of Resilience” programme to restore Bolgoda River’s mangroves
Sri Lanka’s commitment to mangrove conservation is a strong backdrop for Hayleys Fentons’ “Roots of Resilience” programme.
Hayleys Fentons Limited celebrated the inauguration of the “Roots of Resilience” biodiversity conservation programme. The project began with the signing of the MoU on November 7, 2023. This significant endeavour was carried out in collaboration with the Government of Sri Lanka and the Department of Coast Conservation and Coastal Resource Management (CCCRMD).
The “Roots of Resilience” biodiversity conservation programme aims to reinstate the vital mangrove ecosystem in the Bolgoda River. This river, a valuable natural treasure, was selected due to its ecological importance and the environmental threats it faces. The project witnessed the planting of 1,000 mangrove saplings on the banks of the river, an initial step towards the project’s long-term goal of enriching biodiversity and supporting local communities.
“Mangroves are highly productive but extremely vulnerable ecosystems found in the intertidal zone of coastal environments, including lagoons. In Sri Lanka’s Coastal Zone and Coastal Resources Management Plan (CZ&CRMP), mangroves are listed as one of the most important coastal habitats. Hayleys Fentons Limited’s “Roots of Resilience” is closely aligned with the country’s goals for mangrove protection and restoration, as replanting schemes are one of the CZ&CRMP’s core actions. Mangroves act as large filters, removing pollutants, excess nutrients, and sediment from inland municipal and industrial wastewater as well as stormwater runoff. The planting of 1000 mangrove saplings will have a major positive impact on the function of the habitat,” stated Eng. R.A.S. Ranawaka, Director General of CCCRMD.
“As this initiative also combats climate change effects on the habitat, it will improve ecosystem services, providing additional benefits to local fishermen communities through increased natural production. Community participation, public awareness, and close monitoring of progress are critical for the success and sustainability of the project’s five-year plan.”
Expressing his views, Hasith Prematillake, Managing Director of Hayleys Fentons Limited, highlighted the initiative’s dual purpose. “By undertaking this initiative, we wish to take meaningful action to benefit our valuable local environment while contributing to the global effort in preserving biodiversity and combating climate change, leaving a positive impact for the future generation.”
Sujith De Alwis, CEO of Hayleys Fentons Limited, emphasised the company’s consistent dedication to environmental stewardship, saying, “We understand the critical role that biodiversity conservation plays in ensuring the sustainability of our planet. Fully aligned with the United Nations Sustainable Development Goals, the “Roots of Resilience” initiative has a wide-ranging effect. Through mangrove replanting, it is anticipated to counteract climate change by removing 5.9 tonnes of atmospheric carbon per year. Furthermore, within two years, the preserved and regenerated mangrove ecosystems will support regional fisheries, promoting a robust ecosystem.”
Pamudith Gunawardana, Director Finance and the custodian of ESG efforts at Hayleys Fentons Limited, commented, “This endeavour is a critical step towards enhancing biodiversity conservation and contributing to ecosystem restoration.
As agreed with the Sri Lanka Banks’ Association (Guarantee) Ltd. (SLBA), to provide relief measures to affected SMEs by licensed commercial banks and licensed specialised banks, Circular No. 04 of 2024 dated 19.12.2024, and its addendum, Circular No. 01 of 2025 dated 01.01.2025 were issued by the Central Bank of Sri Lanka to ensure the effective implementation of the relief measures specified in the cited Circulars in a consistent manner across all licensed banks.
In case of any rejections or disputes, borrowers are requested to contact the respective banks and to appeal to the Director, Financial Consumer Relations Department of CBSL (FCRD), if required through the following channels:
Based on the repayment capacity and the submission of an acceptable business revival plan by the borrower, the relief measures extended to affected SMEs include rescheduling of credit facilities up to a period of 10 years, extending the time to commence repayments based on the capital outstanding, waiving off unpaid interest subject to conditions, and providing new working capital loans. Despite the availability of the above relief measures, limited number of borrowers had approached licensed banks to avail themselves of these benefits to date.
In addition to the above measures, with the gradual recovery of the economy, in order to facilitate the sustainable revival of businesses that were adversely affected during the recent past, several other measures were taken by CBSL together with the banking industry.
Accordingly, inter alia, strengthening the Post Covid 19 revival units of licensed banks, CBSL issued Circular No. 02 of 2024 dated 28.03.2024 on “Guidelines for the Establishment of Business Revival Units of Licensed Banks” mandating banks to establish Business Revival Units (BRUs) to assist viable businesses that are facing financial and operational difficulties.
Under BRUs, banks may provide support to viable businesses, such as restructuring and rescheduling of credit facilities including the adjustment of interest rates, maturity extensions, providing interim financing, advisory services etc., subject to the condition that such borrowers are required to submit acceptable business plans and feasible repayment plans. As reported by banks, by the end of 2024, around 6,000 facilities had been facilitated through these BRUs.
The above cited Circulars and Guidelines can be accessed via https://www.cbsl.gov.lk
Visa (NYSE: V), the global leader in digital payments reiterated its support to women entrepreneurs across Sri Lanka as a part of its International Women’s Month celebrations across the world, by stating a firm commitment towards financial inclusion and digitization of women-led businesses, and hosted women from different walks of life in a specially curated event at Colombo.
Avanthi Colombage, Country Manager for Visa in Sri Lanka and Maldives stated, “At Visa, we believe in being the best way to pay and be paid by uplifting everyone, everywhere. This year, we celebrated International Women’s Month to support the very capable businesswomen in our country, with an event titled ‘Overcoming Barriers to Growth’ along with Square Hub, an incubator and business accelerator.”
The event by Visa brought together 35 upcoming women entrepreneurs across various sectors, including fashion, e-commerce, fintech, technology, manufacturing, and agriculture. While prominent industry experts shared views, learnings and experiences from their own journeys, the event also facilitated open discussions and networking among entrepreneurs, on how they can build and sustain thriving businesses.
Avanthi elaborates that Visa has built a firm foundation in supporting female entrepreneurship and the empowerment of women in Sri Lanka and understands the challenges women-owned businesses face when seeking capital, access, networks and guidance and continues to actively uplift women in Sri Lanka. Globally and in Sri Lanka, Visa believes that the participation of women is key to the growth of an economy. Avanthi adds, “Two years ago, when we celebrated 35 years of Visa in Sri Lanka, we announced a grant for The Asia Foundation to assist women-led small and medium businesses (SMBs) throughout the country. This initiative offered vital seed funding, skills training, and financial inclusion opportunities for women entrepreneurs, helping remove some major barriers to their success,” she recalled.
Environmental groups, including the Wildlife and Nature Protection Society (WNPS), the Centre for Environmental Justice (CEJ) and the Environmental Foundation Ltd. (EFL), are raising renewed concerns about the potential ecological impact of large-scale wind energy development on Mannar Island. Conservationists argue that the island, home to a unique and sensitive ecosystem, faces serious risks from industrial projects that may disrupt biodiversity and endanger local wildlife.
At the heart of the controversy is whether the environmental issues raised by Adani Group’s proposed wind energy project in Mannar were being adequately considered. Critics argue that tariff negotiations and economic interests overshadowed ecological assessments, potentially leading to a project that might compromise the island’s rich natural heritage.
“Can wind energy coexist with Mannar Island’s fragile ecosystem? asked environmental scientist Hemantha Withanage of the CEJ.
He told The Island Financial Review: “We must ensure that our transition to renewable energy does not come at the cost of irreplaceable biodiversity.”
Other conservationists have pointed out that environmentalists are often misrepresented as obstructionists in debates over development. “Are we being painted as enemies of progress, or is the public being misled about the real consequences of such projects? questioned Dr. Rohan Pethiyagoda, a leading environmental advocate.
With Adani’s possible withdrawal from the project, there is now an opportunity to reevaluate Sri Lanka’s approach to sustainable energy. Experts emphasize the need for a smarter, science-driven path that prioritizes both renewable energy and environmental conservation.
A joint media conference, scheduled for today at the Dutch Burgher Union, Colombo, aims to address these concerns. Organized by WNPS, CEJ, EFL and Pethiyagoda, the event will explore questions such as whether the project might resurface under a new guise and who the true beneficiaries of such large-scale energy initiatives are.
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