FOUNDER MESSAGE
 
Message from the Founder/Hon.President of Advisory Board
 
 
Over the last twenty four years we have seen steady transformation of Women’s Development Federation ( WDF ) into a sustainable Microfinance institution committed for the eradication of poverty. When the progress we achieved is concerned it is obviously a result of what we have fashioned for a purpose-driven business paradigm. Also, the Executive Council and the Advisory Board of WDF remain self-assured that Janashakthi Bank Societies will generate durable returns for the members since ownership and effective participation has became key elements.

At the end of 2013 WDF could spread out it’s services into 1,272 villages in both districts enabling 70,000 women to obtain membership. Similarly, the number of Janashakthi Bank societies have increased upto 158 in 2013 also raising accumulated member savings up to (US $ 5.1 million) Rs. 641 million exhibiting an steady progress, whereas, the volume of loans granted was reached upto (US $ 7.6 million) Rs. 961 million.

In reference to the auditor’s report, ownership of shares has raised upto 94.1 million in 2013 and it is targeted to cross over Rs.100 m in 2014. When the growth rate is concerned , it was 26.2 % in 2012 and 19.7% in 2013.

When the code of conduct is concerned several actions were brought into practice to make sure that WDF inclusive of 158 Janashakthi Banking societies evolve good governance since it is a member based organization. In concerned with the safety and security of members, I am pleased to state here that the total payments made under insurance schemes was (US $ 66,400) Rs. 8.3 million in 2013, granted for 1450 policy holders. Since over-indebtedness can create burdens to the client WDF executes thoroughly the procedures introduced to assess the ability to repay each loans prior to their disbursement.

On the whole, at the end of year 2013 WDF could hold it's net worth of (US $ 5.16 million) Rs. 645 million becoming a well-to-do people’s entity. Also it is noteworthy to mention here that WDF’s Microfinance approach has gone beyond the minimalist approach and it has continued a volume of social performance activities, such as anti-alcohol campaigns. Finally, let me express my thanks and appreciation to our fellow advisors, Executive members, all the staff and the staff of stakeholder institutions, members and I am confident that we have sufficient resources, skills to continue to deliver sustainable and equitable growth in the years ahead.

inimalist approach and it has continued a volume of social performance activities, such as anti-alcohol campaigns. Finally, let me express my thanks and appreciation to our fellow advisors, Executive members, all the staff and the staff of stakeholder institutions, members and I am confident that we have sufficient resources, skills to continue to deliver sustainable and equitable growth in the years ahead.

 
W.G.Mithrarathne,
Hon. President.
Oct., 2014