FDB OFFERS DROUGHT RELIEF TO CUSTOMERS
Development banks have a well-recognised but inadequately emphasised role in the expansion of the less developed sectors here in Fiji. Playing multiple roles, the Fiji Development Bank has helped promote, nurture, support and monitor a range of economic activities, though the bank’s most important function has been as driver of agricultural development.
In light of this, the Fiji Development Bank is taking proactive measures to ensure that its clients receive the necessary assistance during this prolonged drought period.
“At FDB, our customers are our priority. A major part of development banking is the ability to provide assistance to facilitate growth as well as to alleviate hardship. Our flexibility in being able to provide various levels of assistance to our customers is one of our greatest strengths,” FDB Chief Executive Officer, Mr Deve Toganivalu said.
“Poor seasonal conditions can take a toll on agribusinesses and lead to financial stress. Timely assistance to rehabilitate customers who may be affected during these tough times is critical. Hence, we are taking proactive measures to ensure that our customers are assisted as early as practicably possible.”
This comes after revelations from the Ministry of Agriculture that damages by the drought on the agriculture sector currently stands around $20MM.
As an immediate relief measure, FDB offer the following:
- Repayment Moratorium;
- Interest Payment Only;
- Further Loans for rehabilitation purposes.
“First contact will be through our portfolio officers. In order to provide you with the best possible solution, each application will be assessed on a case by case basis.”
All FDB clients affected by the current drought are encouraged to approach your FDB branches and consult with our officers on how best the bank can be of assistance during this adverse weather conditions.
