Fiji Development Bank earns acclaim at Global Sustainable Finance Awards 2023

(L-R) FDB General Manager Risk, Mr Bimal Sudhakar; CEO, Mr Saud Minam and Manager Climate and Eco-Finance, Ms Setaita Tamanikaiyaroi.

Fiji Development Bank (FDB) has clinched prestigious honors at the Global Sustainable Finance Awards 2023, held in Karlsruhe, Germany. The Bank was conferred with the esteemed Certificate of Merit in the category of ‘Outstanding Sustainable Project Financing for Green Technological Transformation.’

This accolade recognizes FDB’s pivotal role in funding Fiji’s ground-breaking Electric Vehicle Charging Stations, established by Leaf Capital Pte Limited.

The Global Sustainable Finance Awards ceremony was an integral part of the Global Sustainable Finance Conference 2023, organized by the European Organization for Sustainable Development (EOSD).

Chairman of the International Council of Sustainability Standards for Value-Driven Financial Institutions and CEO of the European Organization for Sustainable Development, Germany, Mr Rab, lauded FDB’s contribution to the global climate change agenda.

“Transforming mobility is key to fight climate change and electric vehicles are considered today as some of the most effective ways to decarbonize transportation. Against this backdrop, we are delighted to note the contribution of Fiji Development Bank to global climate change agenda. We laud the role of FDB in initiating the process of electrifying transportation in Fiji through renewable energy resources.”

“It is with great pleasure that we conferred to FDB the Certificate of Merit of the Karlsruhe Sustainable Finance Awards 2023, Germany to recognize its success in its project ‘Decarbonisation of Fiji’s Transport Sector’,” said Mr Rab.

Expressing appreciation and pride at receiving this esteemed recognition, FDB CEO, Mr Saud Minam, emphasized that the award serves as a motivation for the development bank to persist in its quest for excellence in sustainable project financing.

“The award is a reminder of our responsibility to continue supporting projects that benefit our local communities, fuel economic growth, and protect our precious environment,” said CEO Mr Minam.

He further highlighted that the Electric Vehicle Charging Stations mark a significant milestone in the country’s green technological transformation.

“FDB’s support in financing this innovative project is expected to bring about a tangible positive impact on the environment, promoting the shift towards sustainable transportation solutions. These charging stations not only contribute to reducing carbon emissions but also facilitate the growth of electric vehicles in Fiji, enabling a cleaner and greener transportation system. Keeping this in mind, we are also financing New Energy Vehicles at an exceptionally low interest rate of 3.99%.”

For more information about Fiji Development Bank’s commitment to sustainability and its pivotal role in financing innovative projects, please visit www.fdb.com.fj