SPBD Microfinance Celebrates a Quarter of a Billion US Dollar Investment into Hard-working Pacific Island Women and Families

HONIARA, June 16, 2023 – SPBD Microfinance, the leading microfinance network dedicated to empowering women microentrepreneurs across the South Pacific, proudly announces a significant milestone in its journey. The organization has disbursed a total of USD $250 million in loans since its inception in 2000, evidence of its commitment to fostering economic development in the region.

Founded with a vision to create meaningful economic opportunities and transform lives, SPBD has been instrumental in supporting more than 115,000 Pacific Island women microentrepreneurs, providing them with vital financial resources and enabling them to build businesses, improve their housing conditions and invest in their children’s education all the way through university for a brighter tomorrow. Through its innovative programs, the organization has facilitated economic independence, job creation, and poverty alleviation for women in Samoa, Tonga, Fiji, the Solomon Islands and Vanuatu.

Founder and President Greg Casagrande said, “This achievement is a testament to the resilience and determination of the women microentrepreneurs we serve. Our members are of modest means but larger ambitions. We are incredibly proud of the impact we have made in their lives and communities. The $250 million milestone represents not just a figure but the dreams, aspirations, and potential unleashed through microfinance. SPBD also owes its success to its 175 dedicated staff. We are honored to be a catalyst for positive change across the South Pacific.”

SPBD Solomon Islands General Manager Raymond McCarthy stated, “We are thrilled to have reached this incredible milestone. By providing accessible and inclusive financial services, we have enabled microentrepreneurs to uplift their families and contribute to the overall socio-economic development of the countries where we operate. The more than 310,000 loans we have disbursed across 5 countries, worth USD $250 million, demonstrates the transformative power of microfinance.”  In the Solomon Islands alone, SPBD has provided more than 30,500 loans worth SBD $163.6 million.  SPBD Solomon Islands employs 22 staff and operates 3 offices in Honiara, Noro and Gizo.

SPBD has been able to achieve this significant milestone through its comprehensive range of financial products, business skills and financial education training, and ongoing guidance and motivation offered to members. SPBD COO Polly Kelekis noted, “With this milestone, we reaffirm our commitment to fostering economic empowerment and inclusivity in the South Pacific region. SPBD remains dedicated to expanding our reach, scaling our operations, and driving sustainable change, with the ultimate goal of transforming the lives of even more women microentrepreneurs in the years to come.”

About SPBD Microfinance Network

SPBD’s mission is to improve the quality of life of underprivileged families by providing them meaningful economic opportunity to help lift them permanently out of poverty.  SPBD is especially focused on empowering women to start, grow and maintain micro-businesses through the provision of access to financial and business development services as well as the opportunity to build assets, improve financial security and finance housing improvements and education.

SPBD’s vision is to create a network of financially self-sufficient and scalable micro-enterprise development organizations throughout the South Pacific.

ENDS//

– SPBD PRESS RELEASE