Prime Minister Hon. Manasseh Sogavare has expressed awe at the pace the South Pacific Business Development (SPBD) Microfinance network has taken in advancing its mission to improve the quality of life offinancially underprivileged families in Solomon Islands.
The Prime Minister made the remark when an SPBD delegation paid a courtesy call on him and introduced the microfinance scheme’s operation in Solomon Islands.
The delegation comprised the US-based founder and President of the micro-financing group himself, Mr Greg Casagrande.
Mr Casagrande said SPBD commenced operation in Solomon Islands in 2013.
He said SPBD operates as a microfinance institution and improves the quality of life of families living in poverty by providing unsecured credit, training and ongoing motivation and guidance to help them start, grow and maintain micro-businesses, build assets as well as finance home improvements and childhood education.
Mr Casagrande said the difference between SPBD and the commercial banks is that it goes out to the villages every week to visit its clients and provides them financial and business training.
In his response, Prime Minister Sogavare said the operation is amazing.
He said the Democratic Coalition for Change Government is working towards reviving the Development Bank of Solomon Islands and would love to work with the SPBD.
An impressed Sogavare said the initiative will empower the financially underprivileged.