A Sustainable Pacific Blue Circle Fund (SPBCF) has been launched to support micro, small and medium enterprises across Fiji, Papua New Guinea, Samoa, Solomon Islands, and Vanuatu.
The SPBCF is funded by the European Union and aims to help build a stronger pipeline of sustainable and investment-ready Pacific businesses through technical assistance, incubation support, partnerships with financial institutions, and business ecosystem strengthening.
It will also assist businesses in the blue economy, green economy, and climate resilience sectors to grow, access finance, and attract investment.
During the launch, Minister for Finance and Business Development Esrom Immanuel said the initiative aligned strongly with Fiji’s national development priorities and the region’s broader ambition for sustainable and resilient economic growth.
“MSMEs are central to our economy and to the livelihoods of our people. However, many businesses continue to face barriers in accessing finance and becoming investment-ready, particularly in rural and climate-vulnerable communities,” Mr. Immanuel said. He said the SPBF responded directly to those challenges by helping businesses strengthen their capacity, improve investment readiness, and better access sustainable financing opportunities.
European Union Ambassador to the Pacific Barbara Plinkert said the SPBCF reflected the EU’s long-term commitment to sustainable and inclusive development in the Pacific.
She said the Pacific had immense potential in the blue and green economy sectors, but unlocking this potential required strong partnerships, targeted support, and sustainable investment.
UNDP Pacific Office in Fiji Resident Representative and United Nations Capital Development Fund Representative Munkhtuya Altangerel said the Pacific did not lack innovation or ambition, but what businesses needed was the right support to translate that potential into growth, jobs, and resilience for their communities.
The SPBCF contributes to regional priorities under the 2050 Strategy for the Blue Pacific Continent and supports progress towards the Sustainable Development Goals, particularly those related to inclusive economic growth, climate action, gender equality, and sustainable ocean-based development.
Minister for Finance and Business Development Esrom Immanuel with the European Union delegation to the Pacific during the launch of the fund. Picture: SUPPLIED
