Solomons set to relaunch development bank

1:42 pm on 1 May 2017

The Solomon Islands government has approved a new business model to revitalise the country's defunct development bank.

The Solomon Islands flag

The Solomon Islands flag Photo: RNZI

The development bank stopped operating more than a decade ago following civil unrest which resulted in mass loan defaults.

A cabinet sub committee report was the culmination of extensive consultations that looked at the reasons the bank failed.

A cost assessment is being carried out to determine how much capital is needed for the bank to be fully operational, along with a national awareness and consultation programme on the changes.