Development Bank of Samoa

Question: 1. What are three most pressing challenges that your institution is facing at this time?

a) We have not seen the full impact but experienced a reduction in repayment and even non servicing of loan

b) Measure to curb virus impact include reduction in staff, limit working hours but no policy exist to address these measures

c) and even no technology in place to support such arrangement

d) No policy for government support but can be sought and may limit due to downturn of overall economy

Question: 2. What solutions, if any, have you developed/instituted to mitigate the above pressing challenges? If unable to solve them, what needs do you have for us or other members to help you with to remedy the situation?

a) We have started negotiation with our financier but have not agreed on any concessions

b) Any concessions that we offer to clients depend on financial partners grace but impact is COVID0A9 is inevitable