The South Pacific Business Development has provided 68,000 loans to women entrepreneurs, totalling $90 million.

Yesterday, SPBD celebrated its milestone of disbursing an impressive $250 million in loans since its establishment in 2010.

The organization has played a crucial role in supporting over 115,000 microentrepreneurs in the Pacific Islands, particularly women, by equipping them with vital financial resources.

These funds have enabled women to establish and expand businesses, enhance their living conditions, and invest in their children’s education.

SPBD’s innovative programs have paved the way for economic independence, job creation, and poverty alleviation among women in the region, notably in Fiji.

General Manager Elerico Munoz emphasizes the organization’s commitment to fostering economic development in the Pacific by disbursing 310,000 loans across five countries.

“While reaching the USD$100m loan disbursement took us 17 years, it is remarkable to note that we have achieved the US$ 250 million margin in just six years after that despite the challenges posed by the COVID-19 pandemic.”

Munoz attributed this accomplishment to SPBD’s diverse range of financial products, comprehensive business skills training, financial education programs, and continuous guidance and motivation provided to members.

He adds that the organization’s presence in Fiji is significant, employing 54 staff members and operating nine offices throughout the country.

Munoz says SPBD’s efforts in empowering women entrepreneurs have made a lasting impact on the economic landscape of the South Pacific region.

He says with their unwavering dedication to fostering financial inclusion and supporting microenterprises, SPBD continues to be a catalyst for positive change in the Pacific Islands.