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FDB marks Golden Jubilee celebrations

July 28, 2017 9:05 pm

The Fiji Development Bank held its Golden Jubilee celebrations in Suva last night.

Chief Guest at the event Prime Minister, Voreqe Bainimarama, said FDB is true to its tag line as a partner in progress to his government, playing a major role in making Fiji a modern, dynamic island economy.

The Bank delivered a net profit of 7.21 million dollars last year, an increase of nearly 20 percent when compared to 2015.

Bainimarama says the Fijian economy is continuing to grow in the positive direction and people are becoming more engaged.

He says people need a development bank that is ready to support them and FDB needs to re-position itself to take on new challenges and realize new opportunities.

“The Asian Development Bank has recently undertaken a comprehensive review of the FDB to determine how the Bank can become even more responsive to the demands of the Fijian market and economy. And as we look ahead, the FDB will have to take serious steps to review its own mandate and reorient it focus to meet evolving development needs of our country.”

The Prime Minister yesterday announced that as of 1st September, for a period of six months, all application fees for loans under $20, 000 will be waived, along with establishment fees for all loans up to $5,000.