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SPBD Shows The Way in Creative NGO Financing

Written by Special Correspondent

Friday, 15 February 2008

Since it was formed in 2001, the South Pacific Business Development Fund (SPBD) has been breaking into new and creative funding of its micro financing scheme in Samoa

· SPBD is incorporated under the Charitable Trust Act 1965 in Samoa and it is an affiliate of the Grameen worldwide microfinance network and it also a member of the Samoa Umbrella for NGOs (SUNGO). Since 2000, SPBD is reported to have started at least 7,000 businesses with at least 15,000 loans totalling US$5million.The SPBD has a relatively reported arrears (over 30 days) provision of 1.3% per annum. The track record of the SPBD in raising financing from a wide range of sources has demonstrated that the location of the NGO in the PICT region is not a major impediment for NGO to access financing for gender development and poverty alleviation initiatives.

SPBD Sources of Financing (2006 – 2007)	Amount
Oikocredit Ecumencial Development Cooperative Society	Euros 200,000
CreSud Milan Italy	Euros 50,000
ANZ Bank Samoa	ST $500,000 credit line
Westpac Bank	ST$440,000 credit line
Funding future credit line:
Sam Morgan (Trademe founder)	ST$1,000,000
Hong Kong Shanghai Bank Corporation (HSBC)e	credit line

SPBD members parade down Apia Beach Road in 2007

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Last Updated ( Friday, 15 February 2008 )

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