Development Bank of Tuvalu strengthens systems and services

Development Bank of Tuvalu strengthens systems and services

The Development Bank of Tuvalu (DBT) recently conducted an Agents Training on the 12th-16th of March to help build their capacity and increase their knowledge on the services and products provided by DBT. Agents are employed by DBT to service the clients in customers in the outer Islands of Tuvalu. Sessions provided by the DBT staff included customer service, marketing of products and DBT services, all lending procedures, recovery techniques and collection and ensuring the requirements of compiling monthly reports and cash handling procedures.

In the last year, DBT has continued to strengthen their in-house capacity as they work toward higher standards and codes of service delivery for customers, introducing new products that clients can benefit from. These include a credit guarantee loan scheme (50% guarantee by Government, 30% by DBT and 20% by applicant); a low coupon fund which allows customers to utilize this for personal appliances for energy efficiency; and the Energy Efficiency Fund which also provides loan assistance for energy related projects. On-going business loans are increasing for fishing, agriculture, tourism, and whilst there is the availability of personal loans employees but with a ceiling of 1,000.00, DBT encourages savings accounts which they have begun introducing and educating in the outer Islands of Tuvalu.

Aside from the ensuring bank services are supporting the development of the people of Tuvalu, DBT is ensuring that the Governments commitments to the Convention on the Elimination of all Forms of Discrimination Against Women (CEDAW), are reflected in the loan schemes and products they offer. Whilst there were updates on the reporting matrix for Tuvalu as of March this year around counseling services for survivors of gender based violence and others, DBT is working towards encouraging women to tap into the loan schemes offered for small businesses through their new ‘Credit Guarantee Loan Scheme’ for the unemployed.