Solomon Islanders living in rural and remote areas will find it easier to access banking and loans through two new initiatives launched by the Development Bank of Solomon Islands (DBSI).
Announced at the DBSI Climate Impact Showcase, the initiatives provide financing facilities for blue economy enterprises and local contractors building climate-resilient infrastructure.
DBSI also reaffirmed its commitment to expand digital financial services and strengthen the country’s digital financial ecosystem.
The programs aim to foster climate resilience, economic opportunity, and financial inclusion across the Solomon Islands.
“This moment reflects a shared confidence in the potential of Solomon Islanders to build enterprises that generate economic value while safeguarding the natural assets on which future generations depend,” DBSI Chief Executive Officer Aisake Radu says.
These initiatives build on DBSI’s digital transformation, which includes the rollout of its core banking system and the expansion of its lending and deposit-taking operations.
The programs also align with national efforts led by the Central Bank of Solomon Islands to advance green finance and financial inclusion.
DBSI says it is strengthening its position as a key institution supporting both financial sector development and national climate resilience efforts.
The LoCAL Program, funded by the Government of New Zealand and the European Union, identified opportunities for DBSI to back local contractors delivering climate-resilient infrastructure.
As provincial governments increase investment in climate adaptation, partnerships with development entities are helping mobilize necessary capital for local businesses.
“This could mean helping a local business expand its operations, create jobs, or invest in more sustainable practices, while also contributing to the climate resilience of their communities,” New Zealand High Commissioner to the Solomon Islands Jonathan Curr says.
Healthy coral reefs support the livelihoods and food security of an estimated 335,000 Solomon Islanders, particularly in coastal areas dependent on fisheries, tourism, and marine resources.
However, many businesses in these sectors struggle to secure the finance needed to grow, create jobs, and expand operations.
To address this gap, DBSI launched a new Blue Economy Finance Facility to provide concessional loans to reef-positive micro, small, and medium enterprises.
Targeted sectors include sustainable fisheries, aquaculture, agriculture, agroforestry, ecotourism, waste management, and recycling.
Initial support will target enterprises operating in Central, Malaita, Isabel, and Western provinces.
The facility falls under the Coral Reef Resilience Project, led by the World Wildlife Fund (WWF) in partnership with the UN Capital Development Fund (UNCDF), funded by the Global Fund for Coral Reefs, and implemented by DBSI.
Rather than financing conservation alone, the project supports businesses whose growth contributes directly to healthier reefs and stronger local economies.
WWF will provide business development support and small grants to help enterprises become investment-ready, while UNCDF provides catalytic capital and technical assistance.
DBSI is expanding its digital financial services to improve access to savings and loan products in communities where traditional banking remains limited.
While mobile money has expanded financial access across the Solomon Islands, many households and small businesses still face barriers to accessing formal credit and savings accounts.
UNCDF supports this work through its Pacific Digital Economy Program, funded by Australia, New Zealand, and the European Union.
As part of efforts to strengthen the digital ecosystem, DBSI will leverage existing nationwide agent networks to bring financial services closer to where people live and work.
By expanding access to climate finance and digital banking, DBSI and its partners said they aim to ensure economic opportunities reach historically underserved areas.
“The initiatives also contribute to the Solomon Islands’ broader commitment to inclusive private-sector development and support the Pacific Islands Forum’s 2050 Strategy for the Blue Pacific Continent.”
