East Asia & Pacific: Bank Lends a Hand

Jul 2015
East Asia & Pacific, July, 07 2015 - Technical assistance will be provided to microfinance institutions and partners in the Pacific by the European Investment Bank under its new Pacific microfinance facility.

The new facility represented the first dedicated microfinance support that focused on the region.

"In order to help overcome current challenges faced by smaller businesses, microfinance lending under the Pacific microfinance facility will be in local currency," the bank said.

Delegation of the European Union for the Pacific ambassador, Andrew Jacobs said the EU believed the commitment by the EIB was timely in the context of the 2015 European Year for Development campaign.

"Regional economic integration channelled through supporting private sector economic involvement and increasing productive capacity is one of the European Union's priorities in the Pacific," he said in a statement this week.

Source : The Fiji Times

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