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Choiseul supports revitalization of DBSI

Participants and Taskforce members in Taro on Wednesday

CHOISEUL Province has strongly backed the Government’s intention to revive the former Development Bank of Solomon Islands (DBSI).

Provincial Government Leaders, local business operators, community elders, women and youth representatives have expressed their desire to see the Bank revived during a consultation and awareness meeting in Taro, Wednesday this week.

The Cabinet Sub Committee Taskforce on DBSI toured the Province to raise awareness on the proposed DBSI business model (operation) and to consult on the policy framework on proposed amendments to the DBSI Act.

This awareness and consultation is mandatory for any legislative reforms or amendment to the Act. It is also important that the policy framework is consulted extensively on to gather information and views from all relevant key stakeholders.

Feedback from these consultations will assist the taskforce and the DBSI Sub-Committee to finalise a policy framework to set the foundation for drafting instructions required for legislative amendments to the current DBSI Act.

Participants at the meeting

At the same time, this consultation is an opportunity for stakeholders to voice their criticisms and suggestions on the best way forward to make DBSI a stronger and sustainable financial institution.

Choiseul Premier Jackson Kiloe said the bank was an important institution that lends money to entrepreneurs in the country when it was in operation.

“Many people from Choiseul who continue to operate small businesses in the rural areas were accessing funds from the bank and it is our wish that the Bank is reopened during the term of the DCC Government,” he said.

He also cautioned the Government to ensure that any new business model or policy framework established to operate the bank should seriously consider the causes of the bank’s demise and to avoid repeating the same mistakes.

Former MP and now private businessman, Clement Kengava, said he is optimistic that the revival of the bank will help to enhance small business developments in rural areas.

The Cabinet Sub-Committee Taskforce with Premier Jackson Kiloe in Taro

“Many rural entrepreneurs really need to access finances to start or expand their businesses and I am optimistic that re-opening the bank is key to achieving this goal,” Mr Kengava said.

David Qae, a former client of DBSI who continues to operate a number of small businesses in Taro said he is longing to see the bank revived.

“It is my dream to see the bank reopened so that I can borrow money to expand on my current business activities,” Mr Qae said.

The Cabinet Sub Committee Taskforce will travel to Temotu and Makira Provinces this weekend to conduct similar awareness programs which conclude on June 2.


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