Villagers’ bank loans of $400k written off
27 April, 2019, 10:09 am
THE ANZ Bank has written off $400,000 worth of bank loans for villagers in Fiji.
This was revealed by the bank’s head of corporate responsibility, microfinance and rural bank Sitiveni Marovia during the Fiji Land Bank landowners trustees workshop yesterday. He said this had not stopped the bank from moving forward.
Mr Marovia said the phrase “we are resource rich, but money poor” needed to change within Fiji.
“There is a lack of money management saving skills that needs to be taught throughout our rural communities in Fiji,” he said.
Mr Marovia said landowners had a tendency of creating a business plan, but knew little or nothing about it.
He said the ANZ Bank was carrying out training for people to understand the purpose of a business plan.
“It is only done to tick a few boxes, but not for the purpose it is intended for and this should not be the case.
“If you want to take part in this training, you can consult with us, we will provide the expenses for you to come and attend the training.”
He said ANZ Bank’s core area of focus for financial inclusion was financial literacy.
“The Government continues to provide assistance, we have resources and the money is flowing in. All that is left is for the landowning units and the provinces to align themselves well in order to take advantage of these opportunities. We at ANZ can help, we are not the answer, but we are willing to help,” he said.