Australia supports Solomon Islands construction business growth

Australia is supporting the growth of the Solomon Islands construction sector by helping local businesses overcome challenges in accessing finance. To facilitate this, an ‘Access to Finance’ workshop was held in Honiara, attended by over 50 company representatives.

The workshop connected local contractors with various banks, financial institutions, and business support organizations, including BSP, Credit Corporation, the Development Bank of Solomon Islands, Business Link Pacific, and Australia’s Strongim Bisnis. Participants received practical guidance on managing cash flow, maintaining accurate financial records, and meeting the specific requirements of lenders when applying for loans.

Australian High Commissioner Jeff Roach stated that improving financial management and access to capital is essential for local contractors to seize new opportunities and advance the country’s infrastructure delivery. Workshop participant Rakei Soaki of Azimuth Survey noted that the session provided critical insights into what financial institutions look for during the application process.