They Don’t Want Loans
p. 74 · Read in the full issue
From RSI Govt.
ALTHOUGH the Agricultural and
Industrial Loans Board was set up in the Solomons last January, to date only two people have taken advantage of the loans available.
Five other applications are under consideration.
The BSIP Government has ex pressed disappointment at the lack of response from the public.
The regulation governing the Agricultural and Industrial Loans gave the Board power to make loans for development, maintenance and improvement of lands; and the prorhotion and development of crafts and industries.
The High Commissioners’ approval is necessary if the loan is over £2,000 or the repayment period is Over 15 years.
The Board has the power to fix such rate of interest as it thinks ht; or to waive interest wholly or in part. : The whole scheme is designed to encourage private enterprise.
I i Mr. Barry Philp, proprietor of the Mocambo Hotel, Nadi Airport, Fiji, paid a brief visit to Sydney in October.