The National Bank of Samoa (nbs) is developing a suite of new banking products that would benefit women entrepreneurs and improve remittances in Samoa with the support of IFC and the New Zealand Government.

The product which was developed by the Pacific Insurance and Climate Adaptation Programme, will be piloted in Samoa over the next 12 months.

International Finance Corporation will invest up to $4 million equivalent in Samoan Tala to boost access to finance for small and medium enterprises particularly women-led businesses and SMEs focused on agriculture.

The new national digital payment platform, the Samoa Automated Transfer System (SATS), is expected to increase access to the financial system for all Samoans.

Microfinance-supported entrepreneurs have exhibited the same resourcefulness that has characterized many other small businesses during the pandemic. At the same time, they face a variety of ongoing challenges.

Small farmers will have improved access to finance given a new endeavor that aims to boost capital markets development in Ukraine, enabling refinancing opportunities for creditors in agriculture.

Through the investment, the partners aim to facilitate farmers’ ability to access much-needed financing to sustain their businesses using local currency.

UAH funding equivalent to EUR 20 million to be on-lent in local currency to small farmers and producers to support economic recovery during COVID-19 crisis.

EFSE partners to provide agricultural businesses with much-needed liquidity in local currency to combat economic effects of coronavirus crisis.