Leader in Financing Sustainable Development
is set up in accordance with the Vanuatu Agriculture Development Bank Act No 20 of 2006. It is established principally to develop the natural resources of Vanuatu giving special regard to Agriculture, Forestry, Fishery, Tourism and Manufacturing.
The government by policy decision pledges to inject VT 500 million equity and followed by VT 100 million annual subsidy funding until the Bank is self-sustainable. In line with this policy decision the government has made equity injection of VT 200 million in 2008 and a further VT 100 million in 2009.
The Bank targets development loans that contribute to the development of the national resources of Vanuatu through existing well-managed intermediaries such as Non-Government Organisations (NGOs), Faith Based Organisations (FBOs) and Self Help Groups (SHGs).
Overall it targets the serious Ni-Vanuatu who is serious in participating and benefiting from the economic development of resources that, undisputedly, belong to him or her. This is to ensure that there is sustainability in the production of services, optimal market penetration and thus ultimate improvements of the standard of living of the Ni-Vanuatus.
The Bank launched on 18 April 2008 and is Head Quartered in Port Vila, Efate, Shefa Province.