Alliance Finance completes 55 ‘AFC Helping Hand’ sustainability drive projects in FY22

Alliance Finance Co. PLC ( AFC), Sri Lanka’s oldest financial institution, conducted and completed a host of initiatives as part of the expansion of its ‘AFC Helping Hand’ sustainability drive. The sustainability drive is conducted through its vast branch network, with the aim of uplifting the lives of all Sri Lankans, especially those who were greatly impacted by the COVID-19 pandemic.

Under this initiative AFC management has instructed its branch network to engage with socially impactful activities at their branch radius to help the community connect. This initiative was taken positively by AFC branch staff, including branch managers and respective regional heads and came up with impactful proposals and out of which best projects were awarded green light to continue with adequate funds.

This initiative has already seen the implementation and completion of a large number of projects around the island by the AFC branch network, despite the challenges brought about by the pandemic. Essential items such as medical equipment, computer equipment, water tanks, playground paraphernalia, educational equipment, etc. have been donated to schools, hospitals, police stations and COVID-19 care centres.

Deputy Chairman and Managing Director Romani de Silva said: “I am proud to see our entire branch network rally behind these initiatives to support their communities. AFC has always been a company that strived to give back to the community, and the fact that these initiatives are being conducted around the island, signifies that very sentiment. This year we have completed 55 projects with an investment of over Rs. 4 million under this valuable initiative.”

As AFC has always been conscious about social and environmental wellbeing of the communities it serves, the company adopted the triple bottom line business philosophy in 2012 and formally integrated it into their business. Since then, AFC’s business has improved greatly as they integrated the principles of sustainability even further into their business model. This allowed the company to develop focused environmental and social programs and make sustainable investments which have strengthened its network with partnerships with likeminded stakeholders.

Over the years, AFC has invested 3% to 4% of a profit allocation every year to conduct social and environmental sustainability initiatives. During the 2020/2021 financial year, AFC invested over Rs. 12 million into sustainability initiatives and have pledged a further Rs. 80 million for the 2022/2023 financial year. AFC has always strived to undertake initiatives that benefit people environmentally and socially and those that contribute to national social priorities as well.