News Release Rehabilitation Assistance Now Includes TC Keni Affected Customers

Fiji Development Bank

  News Release

 Rehabilitation Assistance Now Includes TC Keni Affected Customers

The Fiji Development Bank’s rehabilitation assistance extends only to customers whose farms and businesses were affected by Tropical Cyclone Keni in the western and northern divisions and in Kadavu while the Bank’s TC Josie rehabilitation assistance is for customers in the western and northern divisions only.

The assistance policy assists customers through eased repayment terms and rehabilitation financing to help rebuild their businesses.

All existing farmers and businesses that have suffered damage to crops, farm machinery, stock, property and other assets during the floods caused by TC Josie and Keni in April 2018 are eligible to seek assistance from FDB’s rehabilitation financing scheme for replacement of damaged inventory, restoration and repair of cyclone damage to assets, farm houses, business premises and livestock as well as access to working capital due to loss of sales.

Relief Assistance

Chief Executive Officer, Mark Clough said that the relief assistance will be provided to affected customers through the options of repayment moratoriums, interest rate concessions and rehabilitation financing to help rebuild affected farms and businesses.

“The rehabilitation financing will be provided by FDB through the Reserve Bank of Fiji’s National Disaster Rehabilitation Facility (NDRF) without any upfront or application fee charged by FDB. Further loans from FDB at a concessional rate of 5% on separate accounts is also an option under this Facility,” said Clough.

Rehabilitation Financing through RBF’s National Disaster Rehabilitation Facility will support:

  • Repair or Replacement of damaged inventory;
  • Loss of Sales (including working capital);
  • Repair or Replacement of cyclone damaged machinery, plant and equipment;
  • Restoration of cyclone affected farm houses, business premises including resorts and hotels, and
  • Replacement of business vehicles.

Contact Customer Service

Affected customers are to contact their account manager at the nearest Branch or our Customer Service representative in Suva on 9103470 or 3314866 and leave their contact details, which we will direct for attention at the earliest opportunity. Customers can also message their details to the Bank’s Official Facebook Page.

Clough said the Bank will continue to assess each customer’s request on a case by case basis to determine the necessary assistance that may be required.

The relief assistance policy is effective immediately and will be available until 30 June 2018.

– ENDS –

Date: 24 April 2018

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