Women have been regarded as good borrowers by many financial institutions, including the Fiji Development Bank (FDB) which provided an access to finance for start-up small businesses by women and other target groups. This is FDB’s way in fulfilling its developmental obligation towards reducing poverty in the country.
FDB’s commitment to providing women entrepreneurs access to finance is being coursed through the South Pacific Business Development Microfinance (SPBDM) which FDB has been continuously supporting. SPBDM is the largest microfinance institution in Fiji.
SPBDM, which is a leading micro-enterprise development organization that provides unsecured credit assistance to women micro-entrepreneurs and facilitates capacity-building, was loaned FJ$2 million by FDB in 2014 in an effort aimed at increasing SPDBM’s capacity to reach out to women micro-entrepreneurs in the rural areas.
SPBDM is a membership based organization that serves over 42,000 clients in the Pacific. Members include low-income earning women micro entrepreneurs in rural Fiji.
This FDB project, which won the 2017 ADFIAP Outstanding Development Project Award, under the Financial Inclusion category, encourages the formation of community-based microfinance networks in the country and fulfills the Bank developmental obligation toward reducing poverty in Fiji’s rural areas.