Assessed funding shortage for MSMEs in billions

February 2, 2024 12:17 pm

Women Expo 2023 [File Photo]

Minister for Trade Manoa Kamikamica says that consultations for a new bill, aimed at attracting financial donors to support the financing of MSMEs, will commence next week.

Kamikamica expressed the goal of presenting the bill to Cabinet soon to ensure that MSMEs receive much-needed support.

He says that some financial institutions have also shown support.

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“The way the legislation works is anybody that they want to invest can come through and invest through that mechanism because it’s protected by the Reserve Bank and allows the money to be protected in terms of regulation.”

Kamikamica stated that consultations will begin next Friday and run for two weeks, urging MSMEs to participate to gain an understanding of the bill designed to assist them.

Additionally, Kamikamica highlighted that the assessed funding shortage for MSMEs in Fiji is approximately $2.2 billion.