19 Feb 2014

IFC expands operations in Solomon Islands

6:19 am on 19 February 2014

The International Finance Corporation is expanding its operations in Solomon Islands with the aim of boosting private sector investment and creating jobs.

The IFC, the commerical arm of the World Bank, says it has signed a co-operation agreement with the Solomon Islands government.

Under the new agreement it will maintain a permanent office with a staff of four to be based in Honiara.

A spokesperson, Gavin Murray, says the IFC will focus on helping Solomon Islands take further advantage of its natural resources while growing local business, creating jobs, and improving the skills of women.

Last year, IFC invested 10 million in SolTuna Ltd, a tuna processor in Solomon Islands, to help the company expand its facilities.