Gov’t Plans To Revive Rural Financial Literacy

Gov’t Plans To Revive Rural Financial Literacy

Minister of Commerce, Employment, Industries and Immigration, Francis Billy Hilly this week has announced a new training package aimed at improving financial literacy in rural areas.

The Business Development Division of the Ministry of Commerce will sign a Memorandum of Understanding (MOU) next month with three business training institutions as a starting point of the initiative.

The three organizations will facilitate the rural financial literacy training program in the provinces.

Minister Hilly said funding for the program was committed in the Ministry’s 2009 budget to support and sustain rural income generating activities for Solomon Islanders.

The target areas include establishing village based financial enterprise training skills development in five provinces, provision of financial literacy programs in 25 constituencies, as well as provision of relevant training and support to 150 businesses in a year.

Minister Hilly explained that the program did not eventuate in 2008 following the termination of its previous budget estimates and a delay in developing the program by a committee tasked to oversee its implementation.

The revival of the program is necessary to provide sound business training for small business ventures in rural areas as the country faces challenges from the global economic crisis.

“The government believes that providing assistance in this way can prepare small rural operators to carry out sound business practices that will improve their operations in the tough times ahead,” Minister Hilly said.

ENDS

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