Pan Oceanic Bank (POB) buys $50m Bond from Government

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The National Government today formally sells $50 million Bond to the Pan Oceanic Bank today.

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This is the first time for any commercial bank to trade in the Domestic Bond Market, since the Government resume Bond trading in recent years.

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Minister for Finance and Treasury, Hon. Harry Kuma, MP, on behalf of the government from the Chief Executive Office of the POB, Mr. Upul Hettiarachchi following a Bond Agreement signing ceremony held at the ministry’s conference room this morning.

Hon. Kuma expressed his gratitude for the support to the government.

He stated that such assistance is timely as the government is dealing with some of the economic and financial effects of the Covid-19 global pandemic.

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According to Hon. Kuma, the support from the bank can assist the government in its ongoing efforts to implement some of its key national projects.

Hon. Kuma further acknowledges the need to work together in areas of mutual interest.

Hence, Chief Operating Officer of the POB, Mr. Sathya Jayasuriya said this is part of the initiative of the bank commitment to give back to the community, and to contribute to the Government’s Economic Development Programs.

He also expressed his anticipation to work closely with the government in areas of cooperation.

The signing ceremony was also witnessed by the Governor of the Central Bank of Solomon Islands (CBSI) Mr. Luke Forau and the Permanent Secretary of the Ministry of Finance and Treasury, Mr. McKinnie Dentana.

OPMC PRESS

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