Agriculture Minister Mahendra Reddy [2nd from right] during the FDB Agriculture Family Loan Facility launch

The Fiji Development Bank has introduced a new product called the “FDB Agriculture Family Loan Facility”.

The product is a new financial solution for Fijian families.

Speaking at the launch, Agriculture Minister Mahendra Reddy says the product is particularly designed for experienced farming families.

“The product is specifically designed for families who have a viable farming business on communally owned land, estate or private owned land with consent given by the land owning unit.”

Reddy says the Ministry is expanding the agriculture sector as it has the potential to grow the national income on a sustainable basis.

“We wish to expand agriculture because visibility of the agrarian community can play an important role in raising the consumption of vegetable products. This can reduce the incidences of NCDs significantly.”

The product aims to contribute to the National Agricultural Development Strategy in improving the livelihoods of farmers by accessing inputs and modern technologies.