LOLC Finance engaged in reforestation and eco system restoration project in Deniyaya
View(s):LOLC Finance PLC (LOFC) recently entered into an agreement with Mathurata Plantations and Vibhawa Solutions Pvt Ltd, to concentrate on replanting the endangered and endogenous species in degraded natural forests and private lands to support the reforestation efforts to enrich the natural order.
The core target of this project is to plant 20,000 trees ranging from 12,000 fruit plantations, medicinal herb plantations to a few other selected native plants. The venture will be entirely funded by LOLC Finance while Mathurata Plantations will be offering 50 acres of private land area for plantations, whereas the planting undertaking will be handled by ‘Thuru’, under Vibhawa Solutions, LOLC said in a media release.
The project predominantly launched in the Deniyaya eco system, covers a 50-acre land area belonging to Mathurata Plantations, while five acres of land from Miyawaki forest and Butterfly gardens are also sheltered. In addition to the restoration scheme, a biodiversity study and a carbon setting mapping is also fused to the same project with the intention of further elevating the expression of the complete project outcomes. The entire assignment will go on for a period of a continuous 18 months with the triple partnership.
The official agreement signing ceremony between LOFC, Mathurata and Vibhawa Solutions was held recently at LOLC Holdings PLC, Head Office. The ceremonial event was conducted with the participation of the official signatories from each entity – Montini Warnakula, Chief Operating Officer of LOLC Finance PLC; Pradeep Uluwaduge, Chairman/Non-Executive Director of Mathurata Plantations and Chief HR Officer of LOLC Holdings PLC; Sunjeevani Kotakadeniya, Director Mathurata Plantations/Chief Financial Officer of LOLC Holdings PLC; Buddhika Weerathunga, Head of Finance of LOLC Finance PLC; Heminda Jayaweera, Chief Executive Officer of Vibhawa Solutions and Hasanka Padukka, Chief Operating Officer of Vibhawa Solutions.
Commenting at the ceremony, Montini Warnakula, Chief Operating Officer of LOLC Finance PLC stated: “We at LOLC always understands the urgency to take action to preserve some of our most precious natural resources, to plant more trees, to avert global warming and other future natural catastrophes. Contributing further to the LOLC Green initiatives, we have managed to take a serious stance on reforestation this time.”
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