Business · Sri Lanka Bureau
Pan Asia Bank finances solar irrigation scheme for North Central farmers
Pan Asia Bank has launched a financing initiative to support North Central province farmers in adopting solar-powered irrigation systems, bolstering sustainable agricultural practices across the region.
LSN Sri Lanka ·
The financing programme aims to provide accessible capital for farmers seeking to transition from conventional irrigation methods to solar-powered alternatives, reducing operational costs and environmental impact. The scheme targets agricultural communities in the North Central province, where irrigation represents a significant expense for crop cultivation.
Solar-powered irrigation systems enable farmers to harness renewable energy for water pumping, decreasing dependence on diesel-powered generators and reducing carbon emissions. The technology also offers long-term cost savings by minimising fuel expenses and maintenance requirements associated with traditional irrigation infrastructure.
The initiative aligns with broader efforts to promote sustainable farming practices in Sri Lanka's agricultural sector. By facilitating access to green financing solutions, Pan Asia Bank supports farmers in adopting climate-resilient technologies while enhancing productivity and profitability.
The programme represents a collaborative approach between the financial sector and agricultural communities to address sustainability challenges while improving farmer livelihoods in the North Central region.