Fiji signs USD$200m loan agreement with ADB

Asian Development Bank South Pacific Subregional Regional Director, Masayuki Tachiiri with Attorney-General and Minister for Economy, Aiyaz Sayed-Khaiyum after the signing of a loan agreement yesterday.Picture:ATU RASEA

The Asian Development Bank has signed a loan agreement of USD$200 million with the Fijian Government.

According to the Attorney-General and Minister for Economy Aiyaz Sayed-Khaiyum,  it would go towards supporting foreign reserves and also improving liquidity within the system as well as assisting the government in particular with the COVID-19 pandemic which was still “looming” in the country.

He said this was the final third phase as far as this particular initiative was concerned which had been a good opportunity for the government.

“We have carried out a number of reforms including in the investment environment sector and of course fiscal management area.

“This has been a good partnership and we would like to of course thank them for the funding.

“We have through the discussion of course with the faith that ADB had on us, we manage to get $200 million this time around,” said Mr Sayed-Khaiyum.

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