DEMOCRATIC Coalition for Change (DCC) government led by Manasseh Sogavare plans revive the Development Bank of Solomon Islands (DBSI) early next year.
This was revealed by the national consultation for commerce & tourism within the Prime Minister Office (PMO) Martin Housanau, during the official launching of the Rural Development Program (RDP) Component II in Honiara on Friday.
Mr Housanau said, the DCC government under his capacity will work closely with the Central Bank of Solomon Islands (CBSI) to revive DBSI.
“In the coming weeks, we will hold talks with the CBSI to appoint a steering committee to look at reviving DBSI in the country.
“DCC government wants DBSI to be reopened to allow rural farmers and fishermen in the country to have access to funds in order to support them operate their small businesses in the rural areas.
“The current commercial banks operating in the country cannot offer loans to rural farmers. Therefore DCC government will work with CBSI to get the bank up and running again,” Mr Housanau said last Friday.
Mr Hosanau highlighted due to high interest rates and lengthy load requirements, rural farmers and fishermen cannot access loans.
“Today our rural farmers and fishermen can’t able to access loans from the commercial banks in the country because of expensive interest rates and loan requirements.
“Therefore the DCC government will work closely with CBSI. Hopefully early next year or mid-June DBSI should be reopened to serve the rural business people.”
By DENVER NEWTER