THE government is now working on a project for the expansion of the services of the Development Bank of Solomon Islands (DBSI) to the provincial centres.
Prime Minister Manasseh Sogavare said his Democratic Coalition Government for Advancement (DCGA) hopes to open two provincial branches by end of the year.
“My government is currently working on a new project for DBSI to immediately expand to the provincial centres.”
Mr Sogavare said a sub-committee will be activated to oversee the provincial expansion on behalf of the government.
He said the terms of reference for the DBSI cabinet sub-committee director has been drafted.
Mr Sogavare said since DBSI was relaunched in June 2020 as a fully-fledged development bank providing loans to individuals and Small to Medium Enterprises (SME), the total loan portfolio of the bank has reached $65-million and it is expected to reach around $100-million by end of the year.
The Prime Minister said a further $30-million provided under this year’s development budget will also go towards the loan portfolio to SMEs.
By FOLLET JOHN
Solomon Star, Honiara