Vanuatu March 2021
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BSP Annual Report 2014 2XU9DOXHV
BANK OF SOUTH PACIFIC LIMITED Chairman’s Report................................................................................... 4 A Brief History of Bank South Pacific....................................................... 7 Board of Directors................................................................................. 8 Chief Executive Officer’s Report...........................................................11 2014 Strategic Business Unit Review.....................................................14 Corporate Governance ..................................................................... 24 Historical Summary 2014.....................................................................35 Contributions by BSP to PNG.................................................................36 Overseas Branches and Subsidiaries....................................................37 CONSOLIDATED FINANCIAL STATEMENTS..................................................42 'LUHFWRUV·5HSRUW43 6WDWHPHQWE\WKH'LUHFWRUV45 6WDWHPHQWRI&RPSUHKHQVLYH,QFRPH46 6WDWHPHQWRI)LQDQFLDO3RVLWLRQ 47 6WDWHPHQWRI&KDQJHVLQ6KDUHKROGHUV·(TXLW\48 6WDWHPHQWRI&DVK)ORZ49 1RWHVWRWKH&RQVROLGDWHG)LQDQFLDO6WDWHPHQWV50 Independent Audit Report...................................................................87 Shareholder Information......................................................................88 Directors’ Information...........................................................................93 Management Team and Directories....................................................95 -
Bank South Pacific (BSP) Is Monitoring the Evolving Nature of the Coronavirus (COVID-19) and Is Arranging Relief Packages to Assist Customers During This Period
., MEDIA RELEASE | MONDAY 30th MARCH, 2020| FOR IMMEDIATE RELEASE BSP Solomon Islands Announces Relief Package for Customers Impacted by COVID-19 BSP Solomon Islands | The Bank South Pacific (BSP) is monitoring the evolving nature of the Coronavirus (COVID-19) and is arranging relief packages to assist customers during this period. BSP Group CEO Robin Fleming said BSP is working closely with the Central Bank and other authorities both within Papua New Guinea and in all the countries in which BSP operates. “Fundamental to our planning is also being able to support our customers and as the leading bank in the South Pacific, we know we have a responsibility to help people in our communities and around the Pacific, “added Mr Fleming. BSP Solomon Islands Country Head David Anderson said that, “Given the implications of travel restrictions imposed by the Solomon Islands government, it is clear this will have an impact on some of BSP’s customers” Mr Anderson advises any business financially impacted by the effects of the COVID-19 should contact their BSP Relationship Manager to access the assistance on offer. To assist BSP customers impacted by COVID-19, BSP Solomon Islands will be providing the following relief package for its customers: • Business - Considered on a case by case basis. Please contact your Relationship Manager to discuss your individual needs. • Personal loans - 3-month payment suspension only if reduced hours or loss of employment. Maturity term to be extended by a commensurate term of the suspended repayment period. • Home Loans - 3-month P&I repayment holidays on a case by case basis due to loss of employment, reduced hours or loss of tenants. -
Aviation in the Pacific International Aviation Services Are Crucial to Trade, Growth, and Development in the Pacific Region
Pacific Studies Series About Oceanic Voyages: Aviation in the Pacific International aviation services are crucial to trade, growth, and development in the Pacific region. Improved access provided by international aviation from every other region in the world to an increasing number of islands is opening new opportunities. Tourism contributes substantially to income and employment in many Pacific countries, usually in areas outside of the main urban centers, and enables air freight services for valuable but perishable commodities that would otherwise not be marketable. Although some features of the Pacific region make provision of international aviation services a challenge, there have also been some notable successes that offer key lessons for future development. Case studies of national aviation sector experience show the value of operating on commercial principles, attracting international and OCEANIC V private-sector capital investment, assigning risk where it can best be managed, and liberalizing market access. Integration of the regional market for transport services, combined with harmonized but less restrictive regulations, would facilitate a greater range of services at more competitive prices. Pacific island country governments have the ability to create effective operating environments. When they do so, experience O shows that operators will respond with efficient service provision. YAGES: About the Asian Development Bank Av ADB aims to improve the welfare of the people in the Asia and Pacific region, IATI particularly the nearly 1.9 billion who live on less than $2 a day. Despite many success stories, the region remains home to two thirds of the world’s poor. ADB is O N IN THE PACIFIC a multilateral development finance institution owned by 67 members, 48 from the region and 19 from other parts of the globe. -
WOMEN and BUSINESS in the PACIFIC Anyone Seeking to Support Pacifi C Women and Contribute to Entrepreneurship, Business Development, and Private Sector Growth
Women and Business in the Pacifi c This book provides a current and comprehensive analysis of the context in which Pacifi c women engage in the private sector, as well as a detailed list of strategies to increase their participation in business. Drawing on research and data from seven Pacifi c countries, it o ers a diversity of innovative and pragmatic ways to empower women and enhance their economic opportunities. Jointly undertaken by the Asian Development Bank’s Pacifi c Private Sector Development Initiative and the Government of Australia, this study is valuable for WOMEN AND BUSINESS IN THE PACIFIC WOMEN anyone seeking to support Pacifi c women and contribute to entrepreneurship, business development, and private sector growth. About the Asian Development Bank ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacifi c, while sustaining its e orts to eradicate extreme poverty. Established in , it is owned by members— from the region. Its main instruments for helping its developing member countries are policy dialogue, loans, equity investments, guarantees, grants, and technical assistance. WOMEN AND About the Pacifi c Private Sector Development Initiative PSDI is a technical assistance program undertaken in partnership with the Government BUSINESS of Australia, the Government of New Zealand, and the Asian Development Bank. PSDI supports ADB’s Pacifi c developing member countries to improve the enabling environment for business and to support inclusive, private sector-led economic growth. The support of the Australian and New Zealand governments and ADB IN THE PACIFIC has enabled PSDI to operate in the region for years and assist with more than reforms. -
BSP Annual Report 2011
BSP Annual Report 2011 2011 annual report Bank of South Pacific Limited Bank of South Pacific 2011 annual report www.bsp.com.pg www.bsp.com.pg One Bank,Bank of South One Pacific Limited People. One Bank,Bank of South One Pacific Limited People. 2011 annual report Bank of South Pacific Limited Chairman’s Report .......................................................................................................................... 4 A Brief History of Bank South Pacific .............................................................................................. 8 Board of Directors .......................................................................................................................... 10 Group Chief Executive Officer’s Report ........................................................................................... 12 2011 Strategic Business Unit Review.............................................................................................. 18 Corporate Governance Principles .................................................................................................... 32 Historical Summary 2011 ................................................................................................................ 45 Overseas Branches and Subsidiaries .............................................................................................. 46 Directors’ Report and Financial Statements .................................................................................... 52 ➢ Directors’ Report .......................................................................................................... -
The Status of the Dugong (Dugon Dugon) in Vanuatu
ORIGINAL: ENGLISH SOUTH PACIFIC REGIONAL ENVIRONMENT PROGRAMME TOPIC REVIEW No. 37 THE STATUS OF THE DUGONG (DUGON DUGON) IN VANUATU M.R. Chambers, E.Bani and B.E.T. Barker-Hudson O.,;^, /ZO. ^ ll pUG-^Y^ South Pacific Commission Noumea, New Caledonia April 1989 UBHArt/ SOUTH PACIFIC COMMISSION EXECUTIVE SUMMARY This project was carried out to assess the distribution, abundance, cultural importance and threats to the dugong in Vanuatu. The study was carried out by a postal questionnaire survey and an aerial survey, commencing in October 1987. About 600 copies of the questionnaire were circulated in Vanuatu, and about 1000 kilometres of coastline surveyed from the air. Dugongs were reported or seen to occur in nearly 100 localities, including all the major islands and island groups of Vanuatu. The animals were generally reported to occur in small groups; only in three instances were groups of more than 10 animals reported. Most people reported that dugong numbers were either unchanged or were increasing. There was no evidence that dugongs migrate large distances or between islands in the archipelago, although movements may occur along the coasts of islands and between closely associated islands. Dugong hunting was reported from only a few localities, although it is caught in more areas if the chance occurs. Most hunting methods use traditional means, mainly the spear. Overall, hunting mortality is low, even in areas reported to regularly hunt dugongs. Accordingly, the dugong does not seem to be an important component of the subsistence diet in any part of Vanuatu, even though it is killed mainly for food. -
When Risk Management of Natural Hazards
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Not if but when Adapting to natural hazards in the Pacific Islands Region A policy note Public Disclosure Authorized 2006 Sofia Bettencourt | Richard Croad | Paul Freeman | John Hay | Roger Jones Peter King | Padma Lal | Alan Mearns | Geoff Miller | Idah Pswarayi-Riddihough Alf Simpson | Nakibae Teuatabo | Ulric Trotz | Maarten Van Aalst The World Bank East Asia and Pacific Region Pacific Islands Country Management Unit Adapting to Natural Hazards in the Pacific Islands Region 1 This Policy Note is dedicated to the memory of Savenaca Siwatibau for his efforts and vision in mainstreaming hazard risk management into economic planning in the Pacific. Note: The findings, interpretations and conclusions expressed in this Policy Note are entirely those of the authors and should not be attributed in any manner to the World Bank, to its affiliated organizations, or to members of its Board of Executive Directors or the countries they represent nor to the Pacific Islands Forum Secretariat, SOPAC or AusAID. Contents List of Acronyms iii Prologue iv Contributors vi Executive summary viii 1 High vulnerability 1 1.1 Fifty years of disasters 1 1.2 Recent trends 4 1.3 The future climate 6 2 Key lessons learned 9 2.1 Early action pays 9 2.2 Some action but too little impact 11 3. Future directions 17 3. 1 Strengthening the enabling national environment 18 3.2 Supporting decision-making 20 3.3 Mainstreaming 24 3.4 Implementation 28 3.5 Monitoring and evaluation 30 3.6 -
Reserve Bank of Vanuatu 4
VANUATU NATIONAL FINANCIAL INCLUSION STRATEGY 2018 - 2023 RESERVE BANK OF VANUATU 4. 4V.isiVoins,ioMn,isMsioisnsioanndanOdbjOecbtjievcetsives 4.1 4.1Vision Vision CreateCreate an enabling an enabling environment environment for enrichingfor enriching the livelihoodsthe livelihoods of the of peoplethe people and and MSMEs MSMEs in Vanuatu in Vanuatu through through inclusiveinclusiveinclusiveinclusive financialfinancial financialfinancial services services servicesservices and and consumer andconsumerand consumerconsumer empowermentempowerment empowermentempowerment andand protection.andprotection.and protection.protection. 4.2 4.2Mission Mission By 2023,By 2023, Ensure Ensurean additionalan additional 54,000 54,000 (total (total of 130,000) of 130,000) adults adultswill bewill active be active users users of formal of formal or semi or semi-formal-formal financialfinancial services, services, of which of which 50% 50% will bewill women. be women. Ensure Ensure 40% 40%of the of financiallythe financially included included will bewill active be active users. ususers.5ers. 5 Ensure Ensure a suite a suite of MSME of MSME business business financing financing products products are available, are available, which which are tailored are tailored also alsoto the to needsthe needs of businessesof businesses led by led women by women and youthand youth 4.34.3 Objectives Objectives 4.3.14.3.1To facilitateTo facilitate an enabling an enabling regulatory regulatory and andsupervisory supervisory environment environment for providersfor providers and andusers users of financial of financial services.services. 4.3.24.3.2To enableTo enable the peoplethe people and MSMEsand MSMEs in Vanuatu in Vanuatu to have to have access access to a torange a range of appropriate of appropriate and sustainableand sustainable financialfinancial services services at an at affordable an affordable cost. -
The Search for the Elusive Female Chiefs of Vanuatu
TheSearch for the ELUSIVE FEMALE CHIEFS OF VA N U A T U Story by Lew Toulmin, lead author, and co-authors Dalsie Baniala, Michael Wyrick, Sophie Hollingsworth, Daniel Huang, Theresa Menders and Corey Huber. or over 100 years, researchers, down to the present. ment the female chiefs of Maewo. Dalsie writers and anthropologists So I was quite shocked when over pizza would organize an island festival for the have agreed that there are at Nambawan Café a couple of years women chiefs of the island, featuring no female chiefs in Vanuatu ago, my friend (and now the Vanuatu their culture, traditions, ceremonies and or even Melanesia. Writing Telecom Regulator) Dalsie Baniala casu- promotions. I would bring in and lead in 1914, William Rivers in his History of ally mentioned that her sister on Maewo a team of researchers, to undertake the FMelanesian Society stated that on Pente- analysis. The festival was scheduled for was a “female chief.” I said, “That is not cost, females had prefixes to their names possible – there are none!” August 2015. indicating differences in rank, but he And so the search for the elusive female Then Cyclone Pam hit, in March 2015. firmly stated that this was “not connect- chiefs of Vanuatu began. The festival was postponed to August ed with any organization resembling the 2016, and morphed into more of an We agreed to launch an Expedition, Sukwe” – the male chiefly system. And all-island event focused on women’s arts sanctioned by the famous Explorers Club this was the closest that women came to and traditional practices. -
2015 Company Presentation
Overview of Bank South Pacific Integrity Professionalism Leadership IntegrityQualityProfessionalismPeople LeadershipTeamwork Quality PeopleCommunity Teamwork Community Disclaimer NOT FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES This presentation has been prepared and issued by Bank of South Pacific Limited (the “Company”), and may not be reproduced in whole or in part, nor may any of its contents be disclosed to any other person without the prior written consent of the Company. This presentation is provided by the Company for general information purposes only, without taking into account any recipient’s personal objectives, financial situation or needs. It should not form the basis of or be relied on by the recipient in considering the merits of any particular transaction and does not purport to contain all of the information that an interested party may desire. It is not an offer to buy or sell, or a solicitation to invest in or refrain from investing in, any securities or other investment product. This presentation has not been filed, lodged, registered, reviewed or approved by any regulatory authority in any jurisdiction and recipients of this presentation should keep themselves informed of, and comply with and observe, all applicable legal and regulatory requirements. The distribution of this presentation in certain jurisdictions may be restricted by law and, accordingly, recipients of this presentation represent that they are able to receive this presentation without contravention of any unfulfilled registration requirements or other legal restrictions in the jurisdiction in which they reside or conduct business. Nothing in this presentation constitutes investment, legal, tax, accounting or other advice. -
An Assessment of the Impact of Climate Change on Agriculture and Food Security – Vanuatu
AN ASSESSMENT OF THE IMPACT OF CLIMATE CHANGE ON AGRICULTURE AND FOOD SECURITY – VANUATU AN ASSESSMENT OF THE IMPACT OF CLIMATE CHANGE ON AGRICULTURE AND FOOD SECURITY A CASE STUDY IN VANUATU 25 CLIMATE CHANGE AND FOOD SECURITY IN PACIFIC ISLAND COUNTRIES TABLE OF CONTENTS 27 ~ EXECUTIVE SUMMARY LIST OF TABLES 28 ~ SUMMARY OF RECOMMENDATIONS 45 ~ Table 1: Temperature scenario 29 ~ INTRODUCTION 45 ~ Table 2: Precipitation scenario 30 ~ PHYSICAL AND NATURAL ENVIRONMENT 45 ~ Table 3: Sea-level rise scenario OF VANUATU 54 ~ Table 4: Potential impacts of climate 33 ~ ECONOMY change on agriculture and food security 35 ~ SOCIAL AND CULTURAL SETTING 78 ~ Table 5: A national strategy to mitigate and adapt to climate change 37 ~ THE AGRICULTURE SECTOR IN VANUATU 88 ~ Table 6: Vulnerability assessment of 41 ~ SIGNIFICANCE OF GLOBAL CLIMATE some small islands of Vanuatu to climate CHANGE TO THE PACIFIC ISLAND change and climate variability COUNTRIES 44 ~ CLIMATE CHANGE SCENARIO IN VANUATU LIST OF FIGURES 48 ~ THE LIKELY IMPACTS OF CLIMATE 46 ~ Figure 1: Historical climate trends CHANGE AND CLIMATE VARIABILITY ON Annual mean temperature: AGRICULTURE AND FOOD SECURITY IN Nambatu (Efate) VANUATU 46 ~ Figure 2: Historical climate trends 54 ~ TYPOLOGY OF LIKELY CLIMATE CHANGE Annual mean temperature: IMPACTS ON AGRICULTURE AND FOOD Pekoa (Santo) SECURITY 47 ~ Figure 3: Historical climate trends 55 ~ OTHER FACTORS CONTRIBUTING TO THE Average annual rainfall VULNERABILITY OF AGRICULTURE AND Nambatu (Efate) FOOD SECURITY IN VANUATU 47 ~ Figure 4: Historical -
Volume 1 VANUATU Diagnostic Trade Integration Study
Volume 1 VANUATU Diagnostic Trade Integration Study November 2007 DRAFT R E P O T TABLE OF CONTENTS LIST OF ACRONYMS LIST OF TABLES,BOXES, FIGURES ETC. MAP OF VANUATU FOREWORD EXECUTIVE SUMMARY SUMMARY OF RECOMMENDATIONS DRAFT DTIS ACTION MATRIX SECTION I. CROSS-CUTTING ISSUES CHAPTER 1: MACROECONOMIC ENVIRONMENT 1.1 Introduction 1.2 Background 1.3 Composition of the economy 1.4 Recent economic growth 1.5 Fiscal policy 1.6 Monetary policy 1.7 Inflation 1.8 Impact of aid 1.9 Conclusions CHAPTER 2: BUSINESS ENVIRONMENT AND INVESTMENT POLICY 2.1 Introduction 2.2 Overview of policy 2.3 The business environment 2.4 Investment trends and policy 2.5 Financial services 2.6 Utilities 2.7 Conclusions CHAPTER 3: INSTITUTIONAL FRAMEWORK FOR MAINSTREAMING TRADE 3.1 Introduction 3.2 Mainstreaming trade in Vanuatu 3.3 Gender 3.4 Local government 3.5 The private sector 3.6 Civil society 3.7 Academia 3.8 Conclusions CHAPTER 4: TRADE POLICY 4.1 Introduction 4.2 Trade performance 4.3 The Department of Trade, Industry and Investment 4.4 Trade regime 4.5 Multilateral/ regional trade agreements 4.6 LDC graduation 4.7 Conclusions CHAPTER 5: TRADE FACILITATION 5.1 Introduction 5.2 Roles and responsibilities in trade facilitation 5.3 National and regional approaches 5.4 Sanitary and phyto-sanitary systems 5.5 Transport, storage and wharfage 5.6 Overall conclusions and recommendations CHAPTER 6: TRADE, POVERTY AND HUMAN DEVELOPMENT 6.1 Introduction 6.2 Poverty and human development in Vanuatu 6.3 Human development performance 6.4 The rural economy 6.5 The subsistence effect 6.6 Trade, poverty and human development in the rural economy 6.7 The urban economy 6.8 Conclusions SECTION II.