CBSI to introduce export finance facility for small exporters

Governor of Central Bank of Solomon Islands (CBSI) Dr Luke Forau has announced that the Bank will in the third quarter introduce an export finance facility to support small exporters once the export finance facility guidelines are finalized.

Dr Forau told journalists last week that as part of supporting the Government to promote businesses to recover, the Central Bank has relaxed some of its capital control, this became effective as of 8 July.

“Later this 3^rd quarter, the Central Bank will introduce an export finance facility to support small exporters once the export finance facility guidelines are finalized,” he said.

Forau indicated that the funding is targeted at small agriculture exporters.

 Meanwhile he said the CBSI is also encouraged to note the renewed domestic confidence in the Government’s security papers and stands ready to absorb any government bonds that bondholders would like to offload for liquidity or some other reasons.

“I wish to reiterate that the Central Bank will work closely with the Government to recover the economy. As an agent of the Government, we are here to provide economic and financial advice to Government,” he told journalists.

On the policy front, Forau said the Central Bank will continue to consolidate economic recovery efforts, strengthen supervisory oversight, financial inclusion initiatives, and reduce business red tapes.