Government takes action to guarantee FDB loans – FBC News

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The government is seeking to provide a $200 million loan guarantee to the Fiji Development Bank.

Economy Minister Aiyaz Sayed-Khaiyum tabled a motion in parliament asking for a 12-month guarantee from March 1 to February 28, 2023.


“The bank also plans to repackage SME loans to help eligible businesses offering low interest rates, as rice farmers in the North also receive assistance to start or expand their agricultural activities or to invest in efficiency through mechanization”.

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Loans will be in the form of short term and long term bonds, promissory notes, term deposits, any Reserve Bank of Fiji funding facility and other short term borrowings.

A commission of 0.075% will be applied to the cumulative amount used under the guarantee.

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