“Solomon Islands companies surveyed by IFC, a member of the World Bank Group, have all experienced an impact from COVID-19 on their businesses, with 89 percent of them experiencing a reduction in demand and 78 percent a reduction in turnover or cash flow.
“IFC surveyed nine Solomon Islands companies from the Waka Mere initiative during April and May to obtain a clear picture of the impacts of COVID-19 and deliver actionable business insights.
“Waka Mere, an initiative to promote gender equality in the private sector in Solomon Islands, was set up by IFC, and the Solomon Islands Chamber of Commerce and Industry, with the support of the Australian and new Zealand governments.
“The survey showed that 56 percent of the businesses who took part may need to downsize in the next year due to impacts of COVID-19.”
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