SPBD has contributed a lot to women entrepreneurs in the Pacific region - Munoz

SPBD has contributed a lot to women entrepreneurs in the Pacific region - Munoz

By Iliana Biutu
17/06/2023
Governor of the Reserve Bank of Fiji Ariff Ali and General Manager and Director of South Pacific Business Development Elrico Munoz

The women entrepreneurs who are part of the South Pacific Business Development were full of joy as they took part in the celebration of the US$250 million loan disbursement milestone in the South Pacific.

General Manager and Director of South Pacific Business Development Elrico Munoz says the testament of the transformative power of microfinance has the ability to uplift communities by creating opportunities for economic growth and self-sufficiency.

Munoz says through their network, they have distributed a total of 130,000 loans primarily to women entrepreneurs across the Pacific region.

He says they operate in many branches throughout the country, serving over 7000 women entrepreneurs, and have disbursed more than 67,000 loans with a total of approximately $90 million Fijian dollars.

The Director says the US$250 million loan disbursement milestone at SPBD microfinance operates in Samoa, Tonga, Fiji, Solomon Islands and Vanuatu.

He adds their achievement would have not been possible without the support of their international social investors and local financial institutions like the Fiji Development Bank.

The Governor of the Reserve Bank of Fiji Ariff Ali says the purpose of what the South Pacific Business Development is doing is targeting those who are right at the bottom, and they are helping the economy grow from the bottom.

Ali says the aid given by the United States has lifted so many families in Fiji.

He says the data that they have in the Reserve Bank stated that Small and Medium Enterprises overall contribute around 16% to 18% of Fiji’s GDP, therefore the contribution for the MSME sector is quite important.

He encourages SPBD to take one step ahead in getting a license to operate more like a bank or microtechnology in Fiji, to help Fiji in development and contribution as a whole.



Credit Corp Fiji Care
Credit Corp Fiji Care
FEATURE NEWS
PM says 2 years not enough time to fix all Vanua Levu roads while Lal says there has been 2 years of big talk and no walk
Prime Minister, Sitiveni Rabuka stresses that two years is not enough time to fix the roads in Vanua Levu after the Opposition MP, Ketan Lal said that...
10 hours ago
LATEST NEWS
Police conduct house-to-house enquiries in the Nabua neighbourhood
Police are currently conducting house-to-house enquiries after a man was seen this morning at the Nabua junction with his face covered in ...
10 hours ago

Dialogue sessions are part of the Ministry’s approach to stakeholders across the country – Singh
Minister for Employment, Productivity and Workplace Relations, Agni Deo Singh has clarified that the dialogue sessions currently being conducted ...
10 hours ago

Two men questioned at Valelevu Police Station following argument outside a supermarket
Two men are being questioned by Police following a dispute outside a supermarket in Valelevu. A video shared widely on social media shows one of ...
12 hours ago

Police trying to locate injured woman who left Hospital while receiving medical treatment
Police is trying to locate the woman who was found by police officers outside an apartment complex in Suva with visible injuries and was taken to the ...
12 hours ago

Education Ministry sets up disaster risk resilient department
The Ministry for Education has set up a disaster risk resilient department to look after any disasters that are confronting schools in the various ...
14 hours ago



fijivillage Straight Talk with Vijay Narayan
Latest Videos

Stay tuned for the latest news on our radio stations

CFL radio frequencies
IN DEPTH
Tevita Ikanivere on fijivillage Straight Talk With Vijay Narayan
The show focuses on Ikanivere’s journey, his family, career and how far the Drua has ...
7 days ago

Daniel Fatiaki and Professor Narsey on fijivillage Straight Talk With Vijay Narayan
Chair of the Electoral Reform Commission and former Chief Justice, Daniel Fatiaki and Electoral Reform Commissioner and economist, Professor Wadan ...
7 days ago

Top Interventional Cardiologist Dr Kapadia on fijivillage Straight Talk With Vijay Narayan
The show will focus on health services in the country. The former Marist Brothers Primary and High School student who has been practising medicine ...
22 days ago

TOP