Fiji has secured new funding to improve its preparedness for natural disasters after signing a loan agreement with Japan.

Attorney-General Aiyaz Sayed-Khaiyum signed a standby loan agreement worth more $98m with the Japan International Cooperation Agency.

Sayed-Khaiyum says the loan is a facility that Fiji can utilize following a natural disaster.

“Normally you would find that whenever there is a disaster and then you assess the damage and you actually go out and look for the funds. This facility will ensure that we have a standby facility there which we can immediately tap into.”

Sayed-Khaiyum went on to explain that getting access to these funds means that Fiji must have a certain level of technical preparedness.

“As been highlighted cabinet put in place various Disaster Risk Reduction Policies that was approved by cabinet recently last year in August. The Prime Minister launched it in December last year. We’ve been asked how will this get triggered off. The moment a Natural Disaster is declared by cabinet in accordance with the Natural Disaster management act 1998 then we’ll be able to access those funds.”

The Attorney General adds that this new agreement is testament to the Japanese Government’s endorsement of Fiji’s prudent financial management.

He says this funding is contingent upon the impressive macro-economic and public finance management of the Fijian Government.

The resident representative of the JICA, Yukari Ono said the availability of this facility will help place Fiji in a stronger state of readiness for natural disasters.