Shania Shayal Prasad 
Close to 1,700 Fijians have been assisted in securing their first home through the Australian-funded concessional housing loan facility.
This was revealed by Reserve Bank of Fiji Governor Ariff Ali while making a submission on their August 2021 to July 2024 Annual Report to the Standing Committee on Economic Affairs.
The facility, which aims to improve access to affordable housing for first-time buyers, still has funds available for further lending.
Reserve Bank of Fiji Governor Ariff Ali.
He says as of 30th April this year, $124 million in loans had been approved.
“Under this facility is about $89.8 million to 1,301 first home owners, with a further $10.2 available for further lending. Since its inception, 1,677 homeowners have been assisted.”
Ali says they will also expand the loan facility if needed to continue supporting more first-home buyers.
“So if the funds are fully exhausted, we will then seek a board to seek additional funding, because this is something that we feel is important, and this is something that the committee had also said.”
He says the initiative’s success highlights its role in boosting homeownership and supporting financial inclusion.
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