ADB gives $100m loan to Fiji
December 11, 2014 11:04 pm
The Asian Development Bank has signed for a (FJ) $100million loan on concessional terms with the Fijian Government to support road infrastructure in the country.
Minister for Finance Aiyaz Sayed-Khaiyum says the Government is pleased with this continued assistance from the Bank.
“We would be able to carry out this much needed infrastructure work. A lot of it of course is in many of the rural isolated areas people in the town and cities don’t get to see this. It’s about not just main roads but Irish crossings, bridges and jetties.”
ADB regional director for Fiji Robert Jauacey says the ADB looks forward to lend a hand.
“We had country partnership strategy for Fiji endorsed by our board about a week ago and we are very keen to scale up the level of support that we can provide Fiji.”
Minister for Infrastructure Pio Tikoduadua says he looks forward to further partnership with the ADB.
The loan will be on a 0.7 percent interest rate which Tikoduadua says is a competitive rate.