THE Reserve Bank Import Substitution and Export Finance Facility (ISEFF) has so far approved a total of $51.2million worth of assistance to individual exporting businesses.
This was revealed during the Investment Fiji Exporters Seminar in Sigatoka on Wednesday.
RBF customer relations and business development manager Sylvia Low told participants the objective of the facility was to improve Fiji's balance of payments position through the increase of export earnings and reduction of import payments.
Ms Low said the $80m loan facility could yield benefits for interested parties, especially those in agriculture.
"The 5 per cent interest rate charged to businesses is very attractive and could greatly enhance competitiveness," she said.
"ISEFF promotes import substitution by encouraging production and it can be the difference between survival and closure for some exporters, especially with the very competitive global market and rising domestic costs."