As the Ministry of Agriculture plans to diversify into non-sugar products on a larger scale, the Fiji Development Bank has developed special facilities for ginger and rice farmers.
Chief Executive, Saud Minam says this is under the Agriculture Value Chain Financing.
Minam says due to its success, the Bank intends to create similar facilities under the AVCF for other non-sugar products.
He says the Bank’s agriculture portfolio has the most customers – it stands at 35% which is 3,188 customers.
Minam says sugarcane accounts for the majority, followed by root crops, livestock and fisheries.
The CEO met with the Minister for Agriculture to strategically map out collaboration opportunities to strengthen its contributions towards the agriculture sector.
The move towards digitalization, the use of sustainable agricultural practices, and the need to address labor shortages and aging farmers were also part of the discussion.