Fiji to Get $8.6million Grant from NZ Govt
The New Zealand Ministry of Foreign Affairs and Trade has provided FJ$8.6 million funding to support Government implementation of its economic reform programme over the next two years.
The grant will focus on: improving fiscal management, strengthening public enterprises and public-private partnerships, and improving the business and investment climate in Fiji.
NZ is joining the Asian Development Bank (ADB) and World Bank in supporting the Government’s economic reform programme. Attorney-General and Ministry for Economy Aiyaz Sayed-Khaiyum during the signing ceremony in Suva yesterday, said this was the first time such arrangement had been put in place which also involved the ADB, World Bank and other partners. “We have got a couple of programmes where the Fijian Government has undertaken to carry out a number of reforms that will of course help prepare into the future.”
Mr Sayed-Khaiyum said this would also put in place a number of transparency measures in terms of governance measures regarding the financial management act.
He added this would also help in creating a better and transparent environment for investors with the review of the investment Act itself.
NZ support
He said the NZ Government was funding a direct budget support of $5million into the budget, and $1million grant was for technical assistance. He thanked the NZ government.
He said: “The assistance and collaboration between the developing partners was something we really welcome and in fact these are some of the arrangements been put in place long time ago.” “We look forward for further engagement with NZ and other partners where we carried out structural matters that put in place the very key fundamental pillars into our economy. That will help Fiji stand on its own two feet for the future, and indeed provide a better investment environment for all of us, in creating jobs, attracting foreign direct investment and of course businesses too.”
NZ High Commissioner
NZ High Commissioner to Fiji Jonathan Curr said this grant was designed to support Fiji’s economic reform programmes, support private sectors growth and Fiji’s economy.
“Fiji’s relationship is greatly important to NZ, and we have a very strong bilateral relationship,” he said.
Mr Curr said NZ support would be provided through a mix of grant funding to Government agencies, technical advisors, and partnerships with NZ government institutions to enable exchange of skills, knowledge and systems. In addition he said in supporting a wide range of reforms, it will also focus on areas where New Zealand can add most value.