DBSI injects close to $80m into economy

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DEVELOPMENT Bank of Solomon Islands, Relationship Manager says the bank has injected close to 80 million into the local economy through its lending programs.

Patrick Suti made the statement during DBSI’s awareness program held at Gizo on Friday.

He said DBSI is looking at increasing the figure to 100 million before the year’s end.

Suti said the bank received two to three million per month in its recovery payments – an amount he described as significant as the bank is only two years old since its reestablishment.

He said the focus for cash flow is looking good for the next six to 12 months and into the future.

“We have received interested organisations trying to lend us funding for certain objectives. For example; Asia Development Bank is showing interest to provide special funding that looks at green energy and climate change related programs.

“Business Link Pacific has been on the list of interested lenders through concessional loan programs. BLP provides 2.4 million dollars in its first collaboration with DBSI. Note, that this fund is managed by DBSI and not the lender which is BLP,” Suti explained.

He said the future of DBSI is looking good, however, close collaboration between business operators and the bank is important going forward.