SPBD to undertake 2 milestones in the next few months including disbursement of $100m

The South Pacific Business Development has revealed that they will be undertaking two milestones over the next few months which include the disbursing of $100 million sometime in May and also the opening of its 10th branch in Nausori on 24 June For the SPBD Network.

This was revealed by SPBD during the launch of the SPBD Businesswoman of the Year Awards last night.

SPBD says they are also looking at launching SPBD in more Pacific Island countries and discussions are taking place with relevant authorities.

SPBD adds they operate in five countries including Samoa, Tonga, Fiji, Solomon Islands and Vanuatu and they have disbursed US$260 million and 315,000 microloans to over 100,000 women microentrepreneurs.

They say they have been in operation in Fiji for 13 years, however, the organisation has been in existence since 2000 and has helped over 13,000 women in Viti Levu, Vanua Levu, Taveuni, and Ovalau with nearly $100 million in unsecured loans being disbursed.

SPBD says in many communities, women face systemic barriers to economic empowerment, yet they often display remarkable resilience and resourcefulness in starting and running microenterprises.

They add that these enterprises not only provide vital goods and services but also serve as catalysts for social change and economic development.

They further say empowering women in this way not only enhances individual livelihoods but also contributes to broader goals of gender equality, poverty alleviation, and inclusive economic development.