Rice farmers will be able to access affordable loans after the signing of an agreement with the Fiji Development Bank and Fiji Rice Limited.

The facility will be available from December 1st offering loans of up to $250,000 at an interest rate of 4.99 percent.

FDB Chief Executive Saud Minam says this is part of the Bank’s push into the agriculture sector, and rice farmers can have easier access to funding.

“We will have all the digital platforms ready for farmers to apply starting 1st December. The other things is making things easier for our farmers, up to $10,000 there is no security required.”

President, Ratu Wiliame Katonivere was on hand to witness the signing.

He has commended Fiji Rice and FDB, saying efforts such as these will help reduce rice imports.