Praneeta Prakash 
FDB CEO Saud Minam at a recent public-private partnership agreement signing event [Source: Fiji Government/Facebook]
The Fiji Development Bank has reaffirmed its dedication to supporting the micro, small, and medium enterprises sector, which is recognized as the driving force behind Fiji’s economy.
Speaking at a recent public-private partnership agreement signing event, FDB CEO Saud Minam emphasized the potential embedded within the MSME sector.
He stressed the pivotal role played by these enterprises in propelling economic growth and development in Fiji.
Minam says within the span of just one year, FDB had successfully disbursed over $10 million worth of loans to facilitate and fuel the growth of MSMEs.
He states that this substantial investment in the sector reflects FDB’s unwavering commitment to fostering entrepreneurial initiatives and economic sustainability.
“If you look at the SME and MSME sector, that’s the driving of the economy. And we want to support that segment as much as we can and all day long. 94% of our customer base belongs to three segments agriculture, SMEs and MSMEs. So the bank is for these three segments and we have a little bit of a commercial segment as well, but the bank is actually made for that. We have doubled our number of accounts in last two years from a 4500. We are close to about 9000 some odd number today. And we would like to continue to reach that. “
Minam adds that the bank also launched woman entrepreneur loan about a year ago and has extended its support to around 900 women entrepreneurs, with loans amounting to nearly two and a half million dollars.
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