BDF comes to an End

April 20, 2016

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Suva, Fiji – After seven years of assistance to the private sector, the Pacific Islands Private Sector Organisation (PIPSO) regrettably announces that the Business Development Fund (BDF) grant scheme has drawn to a close. The reason being that the donor has ceased its funding for this fund. Between the years 2009 to 2015, the Fund distributed more than FJD $800, 000.00 to more than 160 recipient businesses throughout the region.

The objective of the co-financing BDF scheme is to enhance business competitiveness and create sustainable employment opportunities.  This was addressed through capacity building via training and business support services and improving market access through product development, quality assurance, and marketing.

For the beneficiaries, the BDF filled the gap caused by limited access to financial resources and capital to expand their business.  The scheme’s design allowed beneficiary organisations to self-determine how the funds were to be used.  Furthermore, the cost-sharing mechanism permitted PIPSO to stretch the BDF funds to assist a larger number of organisations and in addition, enhanced ownership and accountability by those who benefited from the scheme.

“On behalf of PIPSO’s Board of Directors and members across 14 Pacific island countries, we would like to express our heartfelt gratitude to the people and the Government of Japan for funding the Business Development Fund and to the Pacific Islands Forum Secretariat for their assistance,” said Mereia Volavola, PIPSO CEO.