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SPBD Tonga launches on Ha'apai its 3rd branch
Posted on October 29, 2012
The 3rd branch of SPBD Microfinance launched in Pangai, Ha'apai on Oct 2, 2012.
Father Visone Tangifua gave the opening prayer to the launch ceremony. The opening address was given by Mr. Greg Casagrande, President and Founder of SPBD Microfinance Network. Mr. Casagrande's speech emphasized that the relationship between SPBD Microfinance and the SPBD members is like a marriage, that each side makes commitments to each other. SPBD's commitment to the women of Ha'apai is that SPBD will be there forever and ever to continue to provide them financial services such as savings accounts and loans for building their businesses, improving their homes and to cover school fees for their children and life insurance. SPBD members commit to starting and continue running micro businesses such as weaving, fishing, canteens, retail stores and growing fruits and vegetables. SPBD members commit to starting and continue running micro businesses such as weaving, fishing, canteens, retail stores and growing fruits and vegetables. Members also commit to making improvements in their homes and sending all their children to school through Form 7.
The Keynote Address was given by the Honorable Moale Finau, People's Representative from Ha'apai. Mr. Finau stated that SPBD is similar to the Good Samaritan, serving those in need of assistance even though others had overlooked their need.
The opening of the office was attended by new SPBD members, the Ha’apai Staff; Branch Manager Carolyn Feiloaki, Center Manager Fanga’afua Kulitapa, Admin Assitant Kalisi Veilofia, and Amy Lofgren, General Manager SPBD Tonga as well as members of the business community and representatives from government ministries.
SPBD Microfinance has been serving the unemployed and self-employed women of Tonga since 2009. During our 3 years in Tonga, SPBD has provided no-fee savings accounts to over 6,000 women, provided access to unsecured credit to over 6,500 loans for business development housing improvements, school fees, access to life insurance and disbursed over $7 million TOP into the hands of low-income women and their families in Tonga.
SPBD Microfinance is a legally registered Tongan business entity, and is regulated by National Reserve Bank of Tonga.