Fiji Time: 10:14 PM on Saturday 25 October

Fiji Times Logo

/ Front page / Business

Export support

Geraldine Panapasa
Saturday, December 29, 2012

MORE eligible customers, individuals, partnerships and companies will be able to access lower interest rate loan facility, says the Fiji Development Bank.

This followed the recent approval by the country's central bank of $40million for its Import Substitution and Export Finance Facility.

FDB stated the increase meant more readily available finance for the export industry.

"This allows financial institutions like FDB to assist more businesses in the export industry and those who deal with import substitution such as poultry, fruits, vegetables, dairy, aquaculture and even renewable energy financing," the bank stated.

"There will be some positive impact on employment and utilisation of resources.

"FDB does not borrow funds from RBF. The facility however, is available at RBF for utilisation on project basis by any of the banks.

"The rate has not changed and the bank has a current commitment up to $19million on this funding.

"We have been cautious to lend under the facility as we approach the limit and the increase is a great boost to our developmental function."

FDB said the impact of the increase would be realised in the country's sustainability and growth in those focus sectors.





Fiji Times Front Page Thumbnail

Kaila Front Page ThumbnailFiji Times & Kaila Frontpage PDF Downloads

Use the free Acrobat Reader to view.

Today's Most Read Stories

  1. Siblings in shock
  2. Koroi ready to help Fijian scrum during Europe tour
  3. Farewell Duke
  4. In the dark
  5. Forum lifts Fiji ban
  6. Taskforce rakes in $500k in rent arrears
  7. Group of companies hold inaugural Pinktober celebrations
  8. Inglis salutes new Kangaroos X-factor
  9. Separating fact from myth
  10. Relief for farmers

Top Stories this Week

  1. Death shocks family Monday (20 Oct)
  2. Inside Fiji sevens Tuesday (21 Oct)
  3. Budget overspent Wednesday (22 Oct)
  4. Public access Tuesday (21 Oct)
  5. Kepa's not weak Friday (24 Oct)
  6. Full pay while on leave Friday (24 Oct)
  7. Forgery suspect still in remand Tuesday (21 Oct)
  8. $20m in excess Wednesday (22 Oct)
  9. Ryan's fight to help 7s Friday (24 Oct)
  10. $11.9m in arrears Wednesday (22 Oct)