Conversations about Investing in Food Systems Transformation: Northern Co-Operative Development Bank, Sri Lanka

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On 1 December, TIFS convened a webinar with Northern Co-operative Development Bank (NCDB) and its stakeholders. NCDB developed a regional development bank model to build wealth in Sri Lanka’s Northern Province. Participants in the webinar heard from the following speakers:

  • Dr. Ahilan Kadirgamar, Honorary Chairman, Northern Co-operative Development Bank (slide deck)
  • Ms. Keetha Linganathan, General Manager, Akkarayan Multi Purpose Cooperative Society
  • Mr. T. Mithilan, Investor and Philanthropist 

Highlighted in the Mobilizing Money and Movements report, NCDB has developed a model for strong local food systems and building wealth in communities that suffered heavily during Sri Lanka’s civil war.

  • Following the country’s 26-year civil war, NCDB stimulates the rural economy by building trust with local communities, investing in small-industry development, and issuing inclusive financial products where profits are reinvested into the community.
  • NCDB, its loan schemes, and its support services respond to the specific needs and pressures faced by residents in Sri Lanka’s Northern Province, especially women and oppressed communities. Products also consider the seasonal nature of livelihood activities. 
  • Registered under the Co-operative Act of Sri Lanka and owned by members of 1,200 active cooperatives across the Northern Province, NCDB offers its member cooperatives valuable financial, technical, research, and capacity-building support.
  • NCDB intervenes at various phases in the value chain to improve the production, marketing, and distribution of locally produced foods and added-value products. All of its activities are grounded in the cooperative movement.

As the country lives through another crisis, NCDB is helping communities in Northern Sri Lanka continue local food production and creatively leveraging finance to mitigate the effects of rampant inflation and shortages of food, fuel, and other essentials.

The webinar was part of a series co-hosted by the Global Alliance for the Future of Food, the Agroecology Fund, and Transformational Investing in Food Systems (TIFS). The series features enterprises, funds, and service providers that contribute to positive food systems change through entrepreneurship.