The International Finance Corporation is to invest up to $4 million US dollars in the National Bank of Samoa as part of efforts to boost access to finance for small and medium businesses.
The investment comes in the form of an eight-year unfunded risk-sharing facility.
This is expected to help foster financial inclusion while also supporting the creation of thousands of jobs.
IFC and NBS each will cover up to 50 percent of the principal losses, in an up to $8 million US-dollar portfolio of SME loans to be originated by NBS.
Source:
RNZ Pacific