People of East Malaita constituency has collectively endorsed the plan to establish a Constituency Credit Union scheme in the presence of their Member of Parliament Manasseh Maelanga at Faumamanu Market last Saturday.
People voted in favour of the proposal when Hon. Maelanga put the question to them and pledged to inject $100,000.00 from the RDCF as a guarantee for members.
Mr. Maelanga said the proposal was intended to provide easy access to finances for small projects and also to help people save money.
Once established, it will be the first ever constituency credit union scheme in the country.
Maelanga said the scheme is open to everyone in the constituency including women and children.
Community leaders from wards 15 and 16 praised Mr. Maelanga for his vision to register the scheme and also to build an office in Atori to host the administration of the Credit Union.
The launch also coincided with a visit by a team from the Cabinet Sub-Committee on the DBSI to raise awareness about the government’s intention to re-open the defunct bank.
The new business model to operationalize the DBSI is seeking to link existing credit unions and savings clubs in the rural areas.
It is anticipated that rural branches of the DBSI could harmonize the operation of Credit Unions and Savings Clubs in rural areas.
Awareness and consultations on the new DBSI business model and proposed legislative changes to the DBSI Act continues this week in Choiseul, Temotu and Makira Provinces.
