South Pacific Business Development (SPBD) hopes to increase its portfolio in Ovalau by reaching 600 women this year to cater for women in the micro enterprises sector.
This will translate as $900,000 loans disbursed this year.
Elrico Munoz, the general manager for the financial institution made the comment at the opening of the latest branch on Beach Street, Levuka, on Friday.
This is the eighth branch of the SPBD that opened since it began operations in 2010 in the country.
“Before the (COVID-19) pandemic, SPBD was already able to organise seven centres in Ovalau Island, and even organized three more centres in the neighbouring island of Moturiki,” he said.
“The increasing number of SPBD members in the two islands encouraged us to establish a permanent presence in Levuka.
“However, this was put on hold because of the difficulties associated with the COVID-19 pandemic.
“Now that the Fijian economy has opened up again, we are honouring that commitment.”
The success of the SBPD Programme in Fiji, he said, stemmed from the commitment members forged after years of collaboration.
“SPBD Fiji is thankful to the Rotary Club of Suva, Rotary Club of Downtown Auckland and the Rotary International for providing the seed funding for the Ovalau loan portfolio,” he said.
“We are also thankful to Kiva Microfunds of USA and the Good Return of Australia for featuring the stories of these ladies on their websites.”
Chief guest, acting director iTaukei Affairs Board Mosese Nakoroi said: “Several studies reveal that by having access to some form of financial services, women become more confident and more independent.
“They are receiving the recognition that they deserve in their families, their communities and villages.”
Meanwhile, the financial institution in partnership with Islands Business, launched the 2020 magazine on Friday.
The magazine summarizes the journey of SPBD Fiji in the last 10 years.