The Ministry of Women has put forth a proposal for the establishment, of a dedicated Women Micro Bank.
The initiative, spearheaded by the Minister for Women Lynda Tabuya, aims to provide a substantial boost to female entrepreneurs, and catalyze economic growth.
“Our women are getting more and more involved in economic activities, and we’d like to see a bank specifically for women, where they can borrow and become shareholders, and there can be alternative criteria in terms of a woman being able to qualify in terms of finance and grow her business”, Tabuya said.
The proposed Women Micro Bank is designed to cater specifically, to the financial requirements of female entrepreneurs, offering tailored services, support, and resources to facilitate their business endeavors.
“We’re looking at micro businesses that women can take it to the next level. Often women complain about the difficulties of accessing finance from banks in order to grow their businesses”, she said.
“So this will be something modeled like the “Mama’s Bank” in Papua New Guinea, as well in other parts of the world. I hope to bring that to Fiji as part of the Women Empowerment National Action Plan”, she added.