USTDA Supports Banking Modernization in Solomon Islands
September 9, 2021
(USTDA)
Arlington, VA – Today, the U.S. Trade and Development Agency awarded a grant
to the Central Bank of Solomon Islands (CBSI) for technical assistance to
modernize the country’s banking infrastructure. USTDA’s grant, its first in
the Solomon Islands, will develop an information and communications technology
roadmap to support the deployment of new banking applications that will
strengthen the central bank’s operations.
“USTDA is supporting an ambitious effort by CBSI to plan foundational
investments in its digital infrastructure that can revolutionize how the
country’s banks communicate with each other and their customers,” said Enoh
T. Ebong, USTDA’s Acting Director. “Our involvement in this project will
also create opportunities for American companies to partner with CBSI to ensure
quality banking infrastructure that works for all Solomon Islanders.”
USTDA’s technical assistance will recommend upgrades to CBSI’s existing
digital infrastructure and develop specifications and an implementation plan for
deploying new banking applications. These efforts will improve CBSI’s
operations and increase the availability, safety and security of financial
services in the Solomon Islands.
“CBSI is currently reviewing its ICT infrastructure capability as part of its
strategic positioning, not only to mitigate risks like cybersecurity, but also
to conform to modern central banking standards,” said Dr. Luke Forau, CBSI
Governor. “The support provided by the U.S. government through USTDA comes at
the right time, especially when we are working toward constructing our new
headquarters.”
Erin Elizabeth McKee, U.S. Ambassador to the Independent State of Papua New
Guinea, to the Solomon Islands, and to the Republic of Vanuatu, said:
“Congratulations to the United States Trade and Development Agency and the
Central Bank of the Solomon Islands on this important milestone – the first
USTDA grant in Solomon Islands. The increased access to financial services that
Solomon Islands citizens may gain through this grant shows the United States and
Solomon Islands’ commitment to build a sustainable, inclusive, free and open
economy that promotes growth and mutual prosperity.”
USTDA’s technical assistance supports the Biden Administration’s Small and
Less Populous Island Economies Initiative, an effort to prioritize U.S.
government cooperation with island countries and territories to counter COVID-19
economic challenges, promote economic recovery, respond to the climate crisis,
and advance longer-term shared interests.
U.S. businesses interested in submitting proposals for the USTDA-funded
technical assistance should visit www.ustda.gov/work/bid-on-an-overseas-project.
Welcome to the Exporting Source
Your one-stop resource for finding help to export to new customers, to learn about government export programs, to join export-promoting trade missions, to sign up for trade conferences and training, and to link to other exporting services. Whether you're an old hand at exporting or just getting started, the Exporting Source provides a place to locate foreign customers, export financing and foreign investment assistance.