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Budget 2020-21

Banks agree to extend loan deferment options

July 18, 2020 4:53 pm

Banks have given their undertaking that all Fijians whose loans repayments have been affected by COVID-19, will be able to apply for a repayment holiday until the end of the year.

Sayed-Khaiyum says on top of $3.4b in loan repayments already deferred the Association of Banks agreed to defer loan repayments.

The Government will continue to support Micro, Small and Medium Enterprises through highly concessionary loan packages.

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Economy Minister Aiyaz Sayed-Khaiyum says in addition to $30m set aside for this initiative last year, an additional $30m has been allocated.

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