News

New loan to strengthen economy

July 24, 2026 7:52 pm

The government has secured a $178million loan from the Asian Infrastructure Investment Bank.

This will help Fiji deal with growing disaster risks and economic pressures.

The loan will support the government reforms to improve disaster preparedness, strengthen public finances and boost private sector growth.

It is part of a wider $512 million funding package with the World Bank to support Fiji’s economic reform program.

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The financing comes as Fiji continues to deal with the cost of cyclones, floods, rising global pressures and disruptions that can affect government revenue and essential services.

The program will improve disaster planning, strengthen public financial systems and support small businesses through better access to financial services.

It will also help expand digital payments and simplify requirements for low-risk tourism businesses.

AIIB Chief Investment Officer Kim-See Lim said the financing would help Fiji build stronger systems to manage future challenges.

Finance Minister Esrom Immanuel states the support will help the government to strengthen economic stability, build resilience and encourage investment.

The reforms are expected to be delivered by 2028 under Fiji’s National Development Plan 2025–2029 and Vision 2050.