FDB Launches Sustainable Blue Finance Framework to Support Fiji’s Sustainable Development

The Fiji Development Bank (FDB) today launched its Sustainable Blue Finance Framework, a key initiative to support Fiji’s sustainable development. The framework, which includes policy and strategy statements as well as the FDB Sustainable Blue Loans Guidelines, will finance projects that deliver measurable social and environmental benefits, including in clean technologies, renewable energy, and circular material use.

Speaking at the launch, Assistant Minister for Finance, Strategic Planning, National Development and Statistics, Hon. Esrom Immanuel, said the initiative represented a pivotal moment in Fiji’s pursuit of innovative, locally driven financing solutions. “This moment signals another major stride in our nation’s efforts to pioneer financing solutions that work for Fiji, by Fiji, and with Fiji’s future at heart,” he said.

FDB Chief Executive Officer Filimone Waqabaca said the framework reflects the Bank’s strong development mandate and commitment to sustainability.

“As a state-owned financial institution, FDB mobilizes resources to support investments in strategic sectors that drive both economic growth and environmental protection,” he said. “Through this framework, FDB will raise capital to lend to public and private sector entities incorporated in Fiji, with special consideration for projects in blue shipping and e-mobility, sustainable fisheries and aquaculture, eco-tourism, and sustainable agriculture.”

The Sustainable Blue Finance Framework is the result of more than two years of collaboration with UNDP and UNCDF, involving an extensive internal portfolio assessment and broad external consultation.

It aims to empower SMEs, women and youth-led enterprises, coastal and marine entrepreneurs, and inland businesses operating near rivers and streams. “We recognize the importance of incorporating sustainability into business decision-making, ensuring our services benefit communities and ecosystems while supporting responsible growth,” Mr. Waqabaca said.

The FDB Sustainable Blue Finance Framework underscores the Bank’s commitment to supporting sustainable development through its lending operations. This initiative aligns with national priorities, including the Fiji Government’s Sovereign Blue Bond initiative under the Fijian Sustainable Bond Framework (FSBF).

Financing under the framework will be available from 1 April 2025, offering businesses the opportunity to access support for projects that deliver meaningful social and environmental impact. FDB encourages enterprises across Fiji to participate and contribute to a sustainable future.