[Source: Fijian Government]

Attorney-General, Aiyaz Sayed-Khaiyum opened a new fast food outlet – Triton Kana Vinaka, at Nadera back road in Nasinu yesterday.

While speaking at the event, Sayed-Khaiyum highlighted the importance of Small and Medium Enterprises to Fiji’s economy.

He emphasized the Government’s intention behind the $200 million loan facility to incentivize economic activity following the challenges posed by the pandemic.

The loans have been disbursed through the Fijian Development Bank, Bank of the South Pacific and Bred Bank.

[Source: Fijian Government]

Sayed-Khaiyum says these banks borrow at 0.25 per cent from the Reserve Bank of Fiji and lend to businesses at no more than 3.99 per cent.

Lenders are not required to make repayments for the first two years, while the government takes care of interest payments.

Triton Investment Limited Owner, Sachida Nand, says that even though commercial activities have dropped significantly due to COVID-19, they did not lose faith and continued to invest.

Nand adds that they want to ensure that SME’s continue to invest, provide services, employ people and add value to Nasinu, which is their ultimate objective.