Riya Mala 
The Fiji Development Bank is stepping up efforts to protect emerging businesses from the impact of rising fuel costs, particularly those heavily reliant on transport and logistics.
Chief Executive Filimone Waqabaca says while fuel price increases are expected to place pressure on operations, the bank is working closely with affected clients to keep them afloat.
He says FDB is identifying businesses most exposed to fuel costs, such as bus operators, and negotiating flexible loan arrangements to cushion the financial shock and ensure services continue, especially for rural communities and school children.
Despite the challenges, the bank is witnessing growth in new business applications, indicating that entrepreneurial activity remains resilient.
“We have seen that growth and we hope that the fuel price increase may have some impact, but we also hope that the measures being announced by government will help cushion that through targeted approaches. For us, as I stated in one of my earlier interviews, when we go through these shocks, we would like to work with our customers.”
Waqabaca adds that the bank’s focus is to sustain businesses through targeted support, ensuring they can continue operating and contributing to the economy despite rising costs.
Reserve Bank of Fiji Deputy Governor Esala Masitabua says policies are in place to cushion these economic shocks for businesses.
“Difficult challenges that we face, like rising prices and the cost of living, I’m sure your entrepreneurial spirit looks through these challenges and sees opportunities.”
As fuel prices climb, sustained support from financial institutions will be critical in keeping Fiji’s emerging businesses alive and the economy moving.
