An additional $5m will be added to the small, medium enterprises credit guarantee scheme.

An additional $5m will be added to the small, medium enterprises credit guarantee scheme.

Minister for Economy, Aiyaz Sayed-Khaiyum announced that under this scheme if any of these businesses with an outstanding guaranteed loan fail, government has more resources to cover 50 percent of the outstanding loans.

Sayed-Khaiyum also highlighted that the Fiji Investment Corporation Limited will be revived.

“To aid existing small to medium businesses with immediate equity injections and refinancing opportunities, this will be managed through the Fiji Development Bank.”

The Economy Minister adds that other banks have also shown interest in propping up these capital base initiatives as well.