BANK OF SOUTH PACIFIC LIMITED
Status: Completed investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Bank of South Pacific (BSP) is the only locally owned bank in Papua New Guinea. Across the Pacific, BSP has the largest network of branches, rural outlets and ATMs, servicing more than a million customers.
What is our funding objective?
BSP offers integrated solutions to their corporate clients, but the bank's ability to compete effectively in the foreign exchange lending market has been constrained by limited access to longer-term foreign currency funding. With this new facility, BSP will be better able to service Papua New Guinea's growing private sector, including small and medium enterprises linked to the natural resources sectors, which need access to US dollars.
Why do we fund this investment?
BSP is critical to Papua New Guinea's national economic growth. For the country to meet its development potential, it needs strong domestic financial institutions that can provide the financial products necessary for the private sector to grow, provide employment and ultimately boost prosperity. In addition, with its extensive branch and electronic banking networks the bank has a unique outreach to even the most remote areas of the Pacific region, thereby providing access to finance to large parts of the population.
- Website customer/investment
- http://www.bsp.com.pg
- Region
- Asia
- Country
- Papua New Guinea
- Sector
- Financial Institutions
- Effective date
- 6/27/2014
- End date
- 3/28/2019
- Total FMO financing
- USD 25.00 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B