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THE DEVELOPMENT BANK OF AMERICAN SAMOA (DBAS) WAS CREATED IN 1969 BY PUBLIC LAW 11-40 OF THE AMERICAN SAMOA GOVERNMENT. THE PURPOSE OF DBAS IS BASED ON ITS MISSION STATEMENT AND GOALS, WHICH WERE FORMED AS INTEGRAL COMPONENTS OF ITS STRATEGIC PLAN. THROUGHOUT THE YEARS DBAS HAS EVOLVED INTO A SOCIO-ECONOMIC DEVELOPMENT AGENCY FOR AMERICAN SAMOA IN ORDER TO PROVIDE THE TERRITORY WITH LENDING AND INVESTMENT SERVICES. ALSO, DBAS ASSISTS IN THE PROMOTION OF PRIVATE ENTERPRISE TO MEET THE NEEDS OF ECONOMIC DEVELOPMENT FOR AMERICAN SAMOA. DBAS IS ALSO THE CONDUIT FOR US FEDERAL ASSISTANCE PROGRAMS TO FACILITATE HOUSING FOR LOW INCOME FAMILIES AND INDIVIDUALS AND PROMOTE AND DEVELOP ENTREPRENEURSHIP.