Targeted assistance to reduce income inequality
October 29, 2018 6:18 pm
Targeted assistance, like the Micro and Small Business Grant scheme has enabled Fiji to reduce the income inequality in the society.
Minister for Trade Faiyaz Koya made the statement at the disbursement of 1,937 MSB grants to micro and small businesses yesterday in Labasa.
According to the International Monetary Fund IV Report that was released in February, Fiji’s income inequality has declined in the last 15 years.
Koya says this means, the unequal distribution of household or individual income across Fijians has been reduced.
The report notes that assistance such as the Poverty Benefit Scheme, Social Pension Scheme and the Micro and Small Business Grants scheme play a major role in this reduction.
_“Through the MSBG Programme, 35,009 micro and small entrepreneurs have been assisted, impacting the lives of 175,030 Fijians, with the Fijian government’s assistance of $35million.
“This grant will certainly help supplement our household income. I will be able to provide for my two children who are in school and it will help me meet church and vanua obligations.”
1,937 micro and small businesses in Labasa yesterday received up to $1,000 to start their new business or boost their existing business ventures.
The second phase of the disbursement, where 1,467 micro and small businesses to receive their grants will be held tomorrow.