Ministry Tourism And DBSI Pen Historic Tourism Grant Aggreement
BY ALEX DADAMU
A historic tourism grant agreement has been signed between the Ministry of Culture and Tourism (MCT) and the Development Bank of the Solomon Islands (DBSI).
The historic signing was held on 27 May at the DBSI office in Honiara.
The grant agreement includes a grant funding of SBD 2 million which will be provided by the Tourism Ministry as part of the Government tourism sector redirection strategy.
According to speakers during the signing, the tourism loan will be available to the tourism operators after the process is finalized and approved by the DBSI Board.
Speaking during the signing of the agreement, Permanent Secretary of the Ministry of Culture and Tourism, Andrew Nihopara said the ‘Tourism Support Facility’ will go through a transition phase.
“For the start, the agreement will provide what is called the ‘Tourism Guaranteed Support Scheme’.
“Through the process, the tourism ministry is hoping to refine the process with the bank, hopefully by next year – should move into the lending portfolio of the facility,” Nihopara explained.
The Permanent Secretary of the Ministry of Finance and Treasury (MoFT), Makini Dentana also acknowledged PS Tourism, Mr. Nihopara for being able to fulfill the policy intention of the government.
“We would like to have this kind of facility so that it can be sustainable.
“DBSI will manage the facility so that it can be here for the long term,” Makini said.
During the signing of the agreement, DBSI Chief Executive Officer (CEO) Tukana Bovoro said that going forward, DBSI is happy to be part of the initiative.
“If everything works out well, the $2 Million grant agreement can support tourism operators.
Mr. Tukana added that they have developed a reporting mechanism to report regularly on how the funds have been utilized.
“We agreed on a 6 monthly basis report mechanism so that DBSI can report regularly to MCT,” he said.
The brief signing ceremony between MCT and DBSI was attended by the Permanent Secretary of the Ministry of Culture and Tourism, Andrew Nihopara, Permanent Secretary of the Ministry of Finance and Treasury and the DBSI Chairman, Dentana Makini, DBSI CEO, Tukana Bovoro, a representative from the Prime Minister’s office, Media, and staff of the Tourism Division and DBSI.
