Solomon Islands relaunches SME Credit Guarantee Scheme

The Solomon Islands Government and the Central Bank of Solomon Islands (CBSI) have officially reopened the Small and Medium Enterprises Credit Guarantee Scheme (SMECGS). The relaunch aims to improve access to finance for micro, small, and medium enterprises (MSMEs) by allowing the government to share lending risks with financial institutions.

The scheme was previously suspended in January 2025 after guaranteed commitments exceeded available funding. Minister for Commerce, Industry, Labour and Immigration Harry Kuma noted that affordable finance remains a significant hurdle for local businesses, particularly those lacking sufficient collateral. He emphasized that the goal is to support business investment, expansion, and job creation.

CBSI Deputy Governor Raynold Moveni highlighted the need to address gaps in previous program designs, noting that youth- and women-owned enterprises have seen low uptake. Moving forward, the scheme aims to better address specific business needs through improved financial inclusion and support for local enterprise growth.