About us

The Microfinance Pasifika Network (MFPN) is an initiative of the Foundation for Development Cooperation (FDC). The MFPN is an alliance of institutions committed to supporting disadvantaged people in the Pacific, to improve their quality of life through the provision of inclusive and sustainable financial services such as savings, credit, remittances and payment services and insurance.  The Network was formally launched on the 16th and 17th of June 2006 in Port Vila, Vanuatu following over a year of consultations led by the Australian-based FDC. 

The creation of the Microfinance Pasifika Network came out as a result of key constraints facing practitioners, including:

  • Small, spread-out and isolated populations; and
  • A relatively young discipline and industry, with limited experience and education within the region.

In this context, one of the primary objectives of the Network will be the dissemination of relevant information to assist practitioners and supporters of microfinance operations to increase their outreach and performance.

The Microfinance Pasifika Network is distinct from other networks for three main reasons:

  • It is an exclusively Pacific-based network;
  • It capitalises on the diversity represented within the membership; and
  • It acts as the primary information hub for all stakeholder groups

1.    Vision Statement

The Microfinance Pasifika Network shall be committed to improving quality of life through the provision of inclusive and sustainable micro financial services, such as savings, credit, remittances insuranace and payment services, to the economically disadvantaged.

2.    Mission

In the pursuit of its Vision, Microfinance Pasifika has adopted the following mission:

  1. To strengthen institutions providing microfinance services by improving their efficiency, sustainability and outreach;
  2. To promote the development and delivery of diverse and appropriate microfinance products and services;
  3. To encourage partnerships and links between microfinance stakeholders in the Pacific, and stimulate innovation and creativity;
  4. To promote transparent reporting and best practice in microfinance; and
  5. To influence the policies and practices of governments, monetary authorities, financial sector institutions, NGOs and other stakeholders.

3.    Objectives

Over the next 3 years the overriding strategy of MF Pasifika shall be to develop an inclusive microfinance service sector in the Pacific region.

Its objectives are:

  1. Promote an enabling environment for inclusive and sustainable financial services through research and studies and policy and regulatory framework advocacy;

  2. Enhance the capacity of microfinance service providers by providing support in areas such as training and capacity building programs;

  3. Promote and facilitate the exchange of information across the industry using an annual conference, interactive websites and newsletter, for the development of appropriated practice of microfinance in the region tailored to the needs of the economically disadvantaged; and

  4. Improve transparency and standards of practice by encouraging network members to update their current microfinance practice in the Microfinance Network websites and the utilization of external audits, standard reporting and rating services.

4.    Structure & Governance

Currently the membership base consists of 24 financial members, including major donors, 10 provisional and 15 associated organisations from across the Pacific. The main composition is made up of NGOs and commercial banks. Countries represented within the membership are: Australia, Federated States of Micronesia, Fiji, New Zealand, Papua New Guinea, Samoa, Tonga and Vanuatu.

Plans for the next 3 years include to have formally registered 30 active members by 31 December 2011 and approximately 30% growth rate over the next 3 years, aiming for a 95% annual retention rate in members. Included in this is to expand our representation into the Solomon Islands, Tuvalu, Cook Islands, Kiribati, French Polynesia, Marshall Islands, New Caledonia, Tokelau, Northern Marianas and Hawaii by 2012.

The Executive Committee is the governing body of the Microfinance Pasifika Network and has the authority to manage the affairs of the Microfinance Pasifika Network:

The Executive Committee members are:

  • Benny Popoitai (Chair), Bank of Papua New Guinea (PNG)
  • Development Bank of Papua New Guinea (PNG)
  • Nationwide Microbank Ltd (PNG)
  • National Centre for Small and Micro Enterprise Development (Fiji)
  • South Pacific Business Development (Samoa)
  • Vanwods Microfinance Inc (Vanuatu)
  • National Bank of Vanuatu
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Current Member Listing

More specific details of the current Microfinance Pasifika membership is provided in this document.

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