South Pacific Business Development (SPBD) Vanuatu celebrated a major milestone this week at Saralana Park, marking the disbursement of over VT2 billion in microfinance loans to women entrepreneurs across the country.

The event reflects the organisation’s commitment to empowering women through financial inclusion and entrepreneurship.

Speaking at the event, SPBD Microfinance Network Founder and President, Mr. Greg Casagrande, shared his pride in the programme’s achievements.

“It is an immense pleasure to stand before a crowd of determined, SPBD-backed women micro-entrepreneurs. I am proud to announce that we have disbursed over 30,000 individual micro-loans to more than 12,000 women entrepreneurs, totaling over VT2 billion. This is truly a cause for celebration,” he said.

Mr. Casagrande extended his gratitude to the SPBD Vanuatu team, particularly acknowledging the dedication of Asela and the hardworking staff, whose commitment has made these milestones possible.

The SPBD initiative focuses on empowering Ni-Vanuatu women—referred to as “Mamas”—by providing them with the resources to start and expand small businesses.

“SPBD is a special organisation with a deep commitment to its mission: to empower the Mamas of Vanuatu to start and grow small, income-generating businesses that improve the well-being of their families,” Mr. Casagrande stated.

The organisation achieves this by offering business training, unsecured credit, and ongoing mentorship. Once businesses are stable, additional financial support is provided for housing improvements and children’s education. The programme also includes weekly village-based meetings where members receive financial education, savings opportunities, and insurance products to enhance economic resilience.

“By combining financial education, savings, credit, insurance services, and continuous guidance, we empower our Mamas to forge their own paths to success,” he added.

Since its establishment in 2000 in Samoa, SPBD has expanded across the Pacific, now operating in five countries—Samoa, Tonga, Fiji, Solomon Islands, and Vanuatu. It has grown to 23 offices, employing 210 Pacific Islanders and financing over 115,000 women entrepreneurs, with over VT30 billion in unsecured financing.

SPBD Vanuatu marked its seventh anniversary this year. Sophie, a mother from Eratap, shared her success story as an SPBD entrepreneur. Initially unfamiliar with the programme, she joined after attending an awareness session in her village. Starting with a VT15,000 loan, she built a small shelter for her market business, which steadily expanded with subsequent loans. Over time, she was able to extend her home, purchase a generator and grinder, and reinvest in her business.

“Every week, I repay VT50,000, and my fifth loan was paid off in just three months,” Sophie shared. “Through SPBD, I have managed to save VT620,000 and invest in a transport truck, which now supports our business.”

While seeking larger loans, she continues to prioritise sustainable financial growth and responsible loan management.

Director General (DG) of the Ministry of Finance and Economic Management (MoFEM), Mr. Roan Lester, speaking on behalf of the Minister of Finance Johnny Koanapo, praised SPBD’s contributions to financial empowerment and economic development in Vanuatu.

“Financial empowerment is a key pillar of development. With a significant portion of Vanuatu’s population living in rural areas, microfinance institutions like SPBD play an important role in bridging financial gaps by providing small loans, financial literacy, and support to those excluded from the financial system,” DG Lester stated.

He emphasised that empowering women entrepreneurs has a lasting impact on communities, enhancing living standards and contributing to the broader economy, saying, “This is not just about individual success—it is about breaking the cycle of poverty and building a more resilient nation.”

The government reaffirmed its commitment to supporting inclusive economic growth, building entrepreneurship, and strengthening partnerships between the public and private sectors to expand financial services nationwide, DG Roan said.

Closing the event, Mr. Casagrande shared inspirational lessons, drawing from influential figures:

Michelangelo: “The greatest danger for most of us is not that our aim is too high and we miss it, but that it is too low and we reach it.”
Robert Collier: “Success is the sum of small efforts, repeated day in and day out.”
Muhammad Ali: “It’s not how many times you get knocked down that counts, but how many times you get back up.”
Sir Stephen Tindall: “Your business will only be as successful as the demand for your products or services.”
Cicero: “Gratitude is not only the greatest of virtues but the parent of all the others.”
Mr. Casagrande urged SPBD members to be ambitious, persistent, and customer-focused while expressing gratitude for their achievements and contributions.

As SPBD continues its mission in Vanuatu and the wider Pacific, the organisation remains committed to supporting women entrepreneurs, advancing economic growth, and ensuring financial inclusion reaches every corner of the nation. The milestone celebration at Saralana Park not only recognised past achievements but also set the stage for even greater impact in the years to come.