Pacific Private Sector Development Initiative (Asian Development Bank)

PSDI’s Financing Growth team was in Fiji last week, supporting the Ministry of Trade, Co-operatives, Small and Medium Enterprises (MTCSME) and the Reserve Bank of Fiji (RBF) to respond to questions from Fiji’s Parliamentary Standing Committee on Economic Affairs regarding the proposed Access to Business Funding Bill. PSDI is supporting the development and passage of the bill, which aims to improve access to capital for small and medium-sized enterprises by removing the existing regulatory obstacles that limit financing options for SMEs and establishing a framework that supports the introduction of new and innovative financing mechanisms, such as crowdfunding, peer-to-peer lending, and small offers regimes. The bill also prioritizes investor protections. Find out more about the Access to Business Funding Bill: https://lnkd.in/gEjns-gk Read PSDI’s policy paper on Innovative Financing Mechanisms: https://lnkd.in/gssf84yZ 📷: Representatives from MTCSME, RBF, and PSDI address the Parliamentary Standing Committee. L-R: Hon. Naisa Tuinaceva (Standing Committee Member); Caroline Waqabaca (Acting Deputy Governor Reserve Bank of Fiji); Hon. Sakiusa Tubuna (Standing Committee Chair); Jeremy Cleaver (Finance Sector Specialist, PSDI); Hon. Premila Kumar (Standing Committee member); Phinaisi Liao (Principal Business Advisory Officer, Ministry of Trade, Co-operatives and SMEs); and Eserani Munivai (Acting Manager Reserve Bank of Fiji).

🇸🇧 Leadership Matters 2024 launched in Solomon Islands! PSDI last week held a launch in Solomon Islands for the recent publication “Leadership Matters 2024: Benchmarking Women in Business Leadership in the Pacific.” The event, co-hosted by PSDI and Women in Executive Leadership Solomon Islands (WELSI), brought together leaders from government, business, and civil society to discuss strategies driving progress in women’s leadership in Solomon Islands and the barriers that still need to be tackled. The event was also the launch of WELSI, a joint initiative between Solomon Islands Chamber of Commerce & Industry, Solomon Island Women in Business Association-SIWIBA, and the Institute of Solomon Islands Accountants. Read more here: https://lnkd.in/gYwudqmV Read the “Leadership Matters 2024” report here: https://lnkd.in/gQbWggrF

🇫🇯 PSDI in Fiji: Promoting a Stronger, More Inclusive Business Environment PSDI is working in Fiji to increase access to finance, strengthen SOEs and improve service delivery, promote competition, advance gender equality in business, and support tourism planning. Through initiatives such as those promoting alternative financing mechanisms, increasing capacity at the Fiji Competition and Consumer Commission, and promoting women in business leadership, PSDI works to support a stronger and more inclusive business environment. Read more about PSDI’s work in Fiji in the new 2024 Country Overview: https://lnkd.in/gB9FVYRK

📢 Cook Islands Launches New International Business Registry to Strengthen AML/CFT Compliance The Cook Islands Financial Supervisory Commission (FSC) has launched a secure and state-of-the-art registry for international entities, developed by the Asian Development Bank’s Pacific Private Sector Development Initiative (PSDI), with support from the Government of Australia. Learn more: https://lnkd.in/gnq_TD-A

📈 PSDI supports Corporate Planning Seminar for Papua New Guinea’s SOEs. PSDI's State-Owned Enterprise (SOE) and Public-Private Partnership team delivered a seminar in Port Moresby this week, guiding SOEs on aligning their Corporate Plans with the amended Kumul Consolidated Holdings (KCH) Act of 2021. The event was part of a broader partnership between PSDI and KCH aimed at boosting SOE transparency and performance in Papua New Guinea. Read more: https://lnkd.in/gVpgEigt

🔹 Supporting women's equal access to retirement benefits in the Pacific. PSDI, the Pacific Islands Investment Forum (PIIF) and the Fiji National Provident Fund (FNPF) last week delivered a Women in Super workshop in Suva, Fiji. The event gathered together representatives from 12 funds from across the Pacific to address the challenges women face in accessing retirement benefits. Find out more: https://lnkd.in/gYsUQ5-H

🌱 Renewable energy can reduce electricity costs, but not necessarily tariffs—PSDI Pacific utilities can save costs through renewable energy—but success depends on careful planning, grid integration, and strong regulatory frameworks. PSDI’s SOE Reform and PPP Expert, Laure Darcy, has today shared key findings from PSDI’s recent "Powering the Pacific" policy brief at the Pacific Power Association Conference in Nuku’alofa. Tonga. Read more: https://lnkd.in/gKX8DS36

PSDI is pleased to be supporting the Pacific Islands Investment Forum Women in Super workshop currently underway in Fiji. PIIF's important women in super initiative seeks to address women’s disadvantage in accessing benefits from Pacific retirement funds. Read more about the initiative here:

🇵🇬 An updated and user-friendly online business registry system in Papua New Guinea. PSDI has partnered with the Investment Promotion Authority in Papua New Guinea to develop a new, online business registry which offers a modern, user-friendly platform for registering companies, business names, and foreign investments. The upgrade is making it easier for businesses in PNG to register companies, business names, and associations; and ensure data integrity and compliance. Read more about the registry, which launched in 2023, here: https://lnkd.in/gqc_advh

🇹🇻 Tuvalu has among the highest rates of women in business leadership in the Pacific. PSDI has just released an update to its 2021 report, Leadership Matters: Benchmarking Women in Business Leadership in the Pacific. Leadership Matters 2024 finds that Tuvalu has seen growth in the representation of women as board directors and chief executive officers, and is well above the regional averages. Despite this, there is room for improvement. A quarter of boards have no women directors at all, and the representation of women as board chairs has declined since 2021. For more information, swipe through Tuvalu’s results below, and check out the full report here: https://lnkd.in/g52VJi-k