During a recent forum held in the Fijian city of Lautoka, economist Baljeet Singh reportedly called for the public sector to provide technical assistance, training workshops and “low-interest credit” in an effort to develop small and medium-sized enterprises (SMEs). Professor Singh also called for microfinance institutions (MFIs) to offer their clients product development and marketing assistance. Implementing these recommendations, according to Professor Singh, could increase economic development and “reduce the strain on resources being brought about by rapid urban growth.”
For the year 2011, South Pacific Business Development (SPBD) is the only Fijian microfinance institution (MFI) providing data to the US-based nonprofit Microfinance Information Exchange (MIX). It reported a gross loan portfolio of USD 527,000, 2,400 active borrowers, deposits of USD 135,000 and 2,700 depositors.
By Brendan Millan, Research Associate
Sources and Additional Resources:
[1] The Fiji Times: “Informal Sector Boost” by Felix Chaudhary, http://www.fijitimes.com/story.aspx?id=222657
MicroCapital.org story, May 22, 2012, “Partners in Community Development in Fiji (PCDF), Life Insurance Corporation of India (LICI) Launch Microinsurance in Fiji”, https://www.microcapital.org/microcapital-brief-partners-in-community-development-in-fiji-pcdf-life-insurance-corporation-of-india-lici-launch-microinsurance-in-fiji/
MicroCapital.org story, March 29, 2012, “Survey: Majority in Fiji Prefer Cash to Mobile Money”, https://www.microcapital.org/microcapital-brief-survey-majority-in-fiji-prefer-cash-to-mobile-money/
MicroCapital.org story, March 5, 2012, “Fiji Implements Electronic Government-to-Person (G2P) Payment Program, Reports 81% Financial Inclusion Rate”, https://www.microcapital.org/microcapital-brief-fiji-implements-electronic-government-to-person-g2p-payment-program-reports-81-financial-inclusion-rate/
MicroCapital.org story, February 21, 2012, “Financial Literacy Session Promote Savings in Fiji”, https://www.microcapital.org/microcapital-brief-financial-literacy-sessions-promote-savings-in-fiji/#more-17087
MicroCapital.org story, April 1, 2011, “Reserve Bank of Fijito Take Microfinance ‘Expos’ to Rural Islands”, https://www.microcapital.org/microcapital-brief-reserve-bank-of-fiji-to-take-microfinance-expos-to-rural-islands/
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/
Similar Posts:
- MICROCAPITAL BRIEF: Fintech Kacha Gets Regulator Approval to Roll Out Mobile Money App in Ethiopia
- MICROCAPITAL BRIEF: Mastercard, Vodafone Fiji Partner to Provide Debit Cards to Mobile Money Users
- SPECIAL REPORT: Sounding Alarm Bells on Financial Health: Inclusion Is Not Sufficient
- MICROCAPITAL BRIEF: Sama Money Acquires Première Agence de MicroFinance, Entering Microcredit Market in Mali
- MICROCAPITAL BRIEF: China Mobile’s Zong Unveils PayMax Payment Service in Pakistan