With one of the major banking corporations revealing that more than $50 million is given out as loans for small businesses annually, Government is hoping people will take up the opportunity offered by banks and go into business to earn a living for themselves.
Westpac's Head of Business and Corporate Banking Peter Warnett revealed this figure at Westpac Microfinance Expo which was held at Garden City today, whereby 60 Micro-entrepreneurs who had registered with Westpac managed to showcase and sell their goods.
Warnett said Westpac also has a good track record with their customers who take out loans for small businesses.
Meanwhile Chief Guest at the Expo Women and Social Welfare Minister Dr Jiko Luveni applauded the initiative by Westpac, stating Micro Finance enables people to increase their income, save money and manage risk.
Dr Luveni said Micro Finance is an important tool to reduce poverty in Fiji.
Minister for Women and Social Welfare Dr. Jiko Luveni.
Story by: Tokasa Rainima and Ana Naisoro
$50M used in microfinance for small businesses
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