FDB Agriculture Family Loan Facility Launched
Product creates right environment for the farmer to launch into new era of modern agriculture expanding base, remaining competitive.
Grow as a family with the Fiji Development Bank (FDB) Agriculture Family Loan Facility.
This was the message by the Minister for Agriculture, Rural, Maritime Development, Waterways and Environment Mahendra Reddy during the launch in Labasa, of the FDB’s Agricultural Family Loan Package.
“This product creates the right environment for the farmer to launch into a new era of modern agriculture not only to expand their production base, but to also remain competitive,” said Mr Reddy.
He said that with the new initiative in place, farmers would be available to get affordable loans in order to develop land, farmhouse, and infrastructure.
Such as farm inroads, water supply, renewable energy and irrigation to approved experienced farmers with no lease across Fiji. “For those whose loans will be approved, the Bank will deliver financial literacy and management skills training,” he said.
“FDB’s “Be Financially Smart” booklet is designed to promote and develop entrepreneurial and business skills and capacities of farming families and SME’s (Small Medium Enterprises) that will be fundamental to their full market participation, and to take advantage of new opportunities.” He also said that FDB had collaborated with the Ministry of Agriculture Extension and Research, Ministry of iTaukei Affairs and the International Fund for Agricultural Development Fiji (IFAB) in order to create awareness on the new package.
“I am convinced that the product aims to contribute to our national agricultural development strategy in improving the livelihoods of small-holder farmers by accessing inputs and modern technologies, strengthening their linkages to markets, improving access to information, research, and knowledge,” he said.
Mr Reddy also said that the product would assist them meet the 2020 Agricultural Sector Policy Agenda and advances the Government’s five-Year and 20-Year National Development Plan for Inclusive SocioEconomic Development.
“This includes contributing to goals such as reducing unemployment rate to below four per cent, eradicating poverty, and ensuring food security for all Fijians with women, youths and children included in decision-making and generating youth’s interest in farming from an early age,” said Mr Reddy. FDB chief executive officer Mark Clough said that the bank had the largest market share in Fiji in terms of the agricultural sector. “Our mandate is very clear. We are going to facilitate and stimulate the promotion of natural resources and other industries and enterprises in Fiji,” he said.
Mr Clough said that new loan package would lead to the growth and development of the lives of many Fijians.