Fiji Development Bank : FDB to Assist Affected Farmers

21 December 2009

The Fiji Development Bank is offering a low interest rate rehabilitation loan package at 2.5% p.a. to all existing farmers of the Bank whose crops and livestock were affected by Tropical Cyclone Mick.

Chief Executive Officer Deve Toganivalu said that the package is geared to help farmers get working capital to rehabilitate their farmers at the earliest.

“The senior executive management as well as branch and business managers of the Bank visited clients on the field soon after the cyclone and what we saw was devastating,” Mr. Toganivalu said.

“I personally visited areas in the Central/Eastern Division and saw for example acres and acres of dalo under flood water. These crops are only a few months old and the loss to farmers is substantial.

“As a development bank, our role is to ensure that these farmers have working capital to clear, cultivate and replant as soon as possible. This is also very important for the medium and long term food security of our people.”

The maximum loan for the Cyclone Mick Rehabilitation package is $50,000 and the facility is offered until 29^th January 2010.

Farmers are requested to call in at an FDB branch office nearest them and discuss the rehabilitation plan for the existing loan and the new rehabilitation facility.

“Farmers can help speed up the processing of their application by providing acceptable evidence and value of damage of their crops and livestock from assessments carried out by government or other reputable agencies,” Mr. Toganivalu said.

This facility is strictly for existing farmers who are clients of FDB and were affected by TC Mick.

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