SINPF Lending Bank proposal
Quoting the Solomon Star newspaper – 26 January 2018
“The Minister of Finance and Treasury, Manasseh Sogavare, is open to considering the lending bank proposed by Solomon Islands National Provident Fund (SINPF).
“General Manager Mike Wate revealed this after the former finance minister, Snyder Rini, decided not to take on board the proposal when SINPF submitted it to him in 2014.
“Mr Wate said the new Finance Minister had agreed to consider the proposal when he came in during the change of government last year.
“Sogavare had already given the proposal to the Economic Reform Unit to look at it.
“If ERU agrees on the proposal, then Sogavare has the power to consider it,” he said.
“Furthermore, Mr Wate said the former finance minister, John Maneniaru, who replaced Mr Rini for a very short time, had also shown commitment to consider the proposal.
“He said it is positive to see Mr Sogavare taking on board the proposal again.
“Mr Wate did not give the details of the lending bank.
“However, he said the lending bank will be called Private Investment Corporation, which members can borrow loans against their NPF savings.
“Mr Wate said home loans will also be part of this credit institution.”
Copyright: Solomon Star (All Rights Reserved)
