Berendina Micro Investments Co. Ltd

Berendina Micro Investments Company Limited (BMIC) is the first microfinance company in Sri Lanka licensedby the Central Bank of Sri Lanka under the Microfinance Act No. 6 of 2016.Berendina initiated a dedicated microfinance program in 2007 by establishingBerendina Microfinance Institute (Guarantee) Limited (BMI). Under the Brerendina umbrella,BMIC commenced in parallel to BMI and operated as a separate organization until 2017. With the objective of obtaining the microfinance license from the Central Bank of Sri Lanka the business activities of BMI were transferred to BMIC in September 2017.

Since the inception, Berendinamicrofinance service operate as a truly poverty focused Microfinance Institute (MFI) in Sri Lanka. Providing credit at the lowest interest rate compared to the NGOs and private sector MFIs operating in Sri Lanka and having a dedicated credit plus approach with the inclusion of Enterprise Development Services (EDS) are some of the key features of BMIC towards the commitment on poverty alleviation. Further, BMIC has a special focus on environmental safeguards in the activities promoted by the company which goes in line with the road map for “Sustainable Finance in Sri Lanka” implemented by the Central Bank of Sri Lanka.

The marginal profits earned by BMIC have been given only to the two NGOs in the Berendina family in Sri Lanka. They are Berendina Development Services (BDS) and Berendina Employment Centre (BEC).  Both these organizations work in 7 districts of the country having a budget of over 230 million rupees, a year. The funding is currently provided by BerendinaStichting of the Netherlands and BMIC. While BEC is dedicated to the enhancement of educational opportunities for youth to find skilled employment, BDS provides other development services in the sectors of water and sanitation, livelihood development, disaster management, and advocacy and lobbying. The services of these 2NGOs are provided free of charge.