Bank South Pacific is the latest Solomon Islands 2023 sponsor in an SBD$500,000 deal ©Solomon Islands 2023

Papua New Guinea-based Bank South Pacific (BSP) has entered an SBD$500,000 (£48,000/$60,000/€56,000) agreement to become a bronze sponsor of the Solomon Islands 2023 Pacific Games.

BSP previously served as a major sponsor for the 2015 Pacific Games in Papua New Guinea's capital Port Moresby.

The Solomon Islands is among the Pacific nations which it has operations in, and it becomes the third sponsor in the bronze tier for this year's Games, along with beer partner SolBrew and currency exchange provider Fexco Limited.

BSP becomes the official Games banking and financial service provider as part of the agreement.

Organising Committee Board chair Martin Rara welcomed BSP's support.

"We are very happy and so excited to have BSP on board, to be able to stand alongside GOC [Games Organising Committee] and deliver a memorable Sol2023 Games for the 5,000 plus athletes from 24 countries in the region that will be attending come November and December this year," he said.

"Your coming on board to support this event is a blessing not only to the GOC and our preparations, but most importantly to sports development in Solomon Islands.

"We are indeed grateful for your support and look forward to working closely with you in delivering the biggest event Solomon Islands will have ever hosted in this year’s Sol2023 Pacific Games."

Bank South Pacific is the third bronze-tier partner for this year's Pacific Games ©Solomon Islands 2023
Bank South Pacific is the third bronze-tier partner for this year's Pacific Games ©Solomon Islands 2023

The head of BSP in the Solomon Islands Sandra Fore added: "We are indeed pleased to be part of this multi-sporting event that celebrates sports, strengthens our friendship and promotes our Pacific culture and pride."

Solomon Islands 2023 also has silver and gold-tier sponsors, as well as presenting sponsors and official suppliers.

In a flurry of recent deals, South Pacific Oil Limited became the first gold-tier sponsor in a SBD$5.1million (£486,000/$611,000/€568,000) agreement last month.

This year's Pacific Games are scheduled for November 19 to December 2, having been delayed by four months to allow more time for preparations due to the disruption caused by the COVID-19 pandemic.

It is set to mark the first time the Solomon Islands has staged the multi-sport event.

The Games has led to the host nation's general election being postponed until 2024, extending the term of incumbent Prime Minister Manasseh Sogavare beyond the constitutional limit of four years.

Sogavare has claimed the country does not have the resources to host a general election in the same year as the Pacific Games, but critics argue it is a power grab and undemocratic.