Kirisitiana Uluwai 
Government has received financial support from the World Bank to fund its Development Programme in Vanua Levu.
Prime Minister Sitiveni Rabuka confirmed today that the cabinet has approved the institutional mechanism for this program.
Rabuka says the programme aims to build sustainable economic growth in Vanua Levu through destination development, investments in resilient infrastructure and essential services, an improved tourism-enabling environment, and institutional coordination.
“The World Bank (WB), at the request of the Government of Fiji, is providing financing through its International Development Association (IDA) facility to support integrated, resilient, and sustainable tourism development in Vanua Levu.”
The International Development Association is part of the World Bank that helps the world’s poorest countries by providing zero- to low-interest loans (called “credits”) and grants for programs that boost economic growth, reduce inequalities, and improve people’s living conditions.
IDA lends money on concessional terms, which means that IDA credits have a zero or very low-interest charge and repayments are stretched over 30 to 40 years.
More than half of IDA countries receive all, or about half, of their IDA resources on grant terms, which carry no repayments at all. These grants are targeted at low-income countries at higher risk of debt distress.
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