A half day awareness on the proposed DBSI policy framework has taken place at Auki on Friday last week.

The awareness was facilitated by members from the various sectors that serve under the national government.

The purpose of the trip to Auki and other provinces is to undertake awareness on the DBSI business model (operation) and consultation into the policy framework on the proposed amendments to the DBSI act.

This awareness and consultation is important and mandatory for any legislative reforms or amendment.

It is also important that the policy framework shall be consulted extensively to gather information from all relevant key stakeholders.

In December 2014, after being elected, the DCC Government announced its intention to facilitate the re-establishment of the Development Bank of Solomon Islands (DBSI) to cater for SME’s and other micro- financing schemes in rural areas.

In May 201, cabinet agreed to establish a task force and sub- committee to progress this work.

In order to give the revitalized DBSI a new hope, the amendment of the DBSI act is necessary to strengthen its governance and to address some of the key weaknesses that have in some ways contributed to the poor performance of DBSI and led to its demise.

The cabinet has also instructed the DBSI task force and sub-committee to commence the costing exercise to establish the required capital money to revitalize the DBSI.

Consequently the taskforce drafted a policy framework for legislative amendment and this is a document that will used to translate into a drafting instruction and consequently the law when finalized.

As a mandatory requirement in any legislative review, the policy paper must be consulted widely and in this regard, the DBSI task force and the sub-committee is required to consult widely with relevant stakeholders on this policy framework for the amendment of the DBSI act.

The taskforce have also noted the tight timeline given to complete task by July 2017.

Therefore the planned date of our visits and consultation to the four provinces (Temotu, Choiseul, Makira and Malaita) is dictated by that timeline.

Western and Isabel provinces have been covered in the earlier consultation for business model and the team has also covered some of the aspect of the legal issues for amendment and those feedbacks would be treated as part of this consultation and part of the final paper to be translated into drafting instruction.

This consultation is critical and provides the public and relevant stakeholders the opportunity to share their views and thoughts.

The feedback from these consultations will aid the task and the DBSI Sub-committee to finalise the policy frame work and the drafting instructions required for legislative amendment to the DBSI act.

At the same time, this consultation is an opportunity for stakeholders to give their criticism and suggestion on the best way they can help to make DBSI a stronger and sustainable institution.

The consultation is anticipated to commence from 13^th May 2017 and completed by early June 2017.

The output report from this consultation is hugely significant in advancing the whole DCCG agenda of revitalising DBSI.

The feedback from these consultations will feed into the final mandatory policy framework paper that will be submitted for cabinet approval and subsequently to be used to translate into final drafting instruction to amend or write the DBSI act.

As such this is output report is mandatory piece of work that has to be produced in a timely manner and has to be quality.

It is expected that this report and the drafting instruction is finalized and submitted to cabinet in early June 2017 and as soon this is approved by cabinet, drafting and amendment should commence late June 2017.

The amendment law is anticipated to go into the next parliament in July 2017.

The task force and the sub-committee of the DBSI project have noted the tight timeline and therefore will treat this consultation with utmost urgency.

The team is also proposing to conduct consultations in Honiara in the first week of June 2017, while at the same time firming up the policy paper for cabinet.