It is a good example of the public, private sectors and civil society partnership towards common goals. Results are produced through such coordination and understanding. At the end of the day, it is the general population that will benefit from such collaboration. Why promote microfinance? Some of you may be wondering why the Reserve Bank of Fiji is so keen on promoting microfinance.
Up to now, banks have deferred repayments on more than RMB6 trillion worth of loans and issued over RMB3 trillion unsecured inclusive MSB loans, which benefited more than 30 million business entities. The financial sector has achieved the goal of cutting RMB1.5 trillion worth of profits in favor of the real economy.