FDB Supports Businesses Amid Rising Fuel Costs

The Fiji Development Bank is demonstrating its commitment to supporting local businesses during challenging economic times. With fuel prices on the rise, many Fijian enterprises, especially those in the transport sector, face significant operational pressures. FDB's proactive approach, as highlighted by CEO Filimone Waqabaca, involves identifying at-risk businesses and offering tailored financial solutions, such as flexible loan terms.

This initiative is crucial for maintaining the flow of essential services, particularly for rural communities and students who rely on these transport operations. The bank's efforts aim to ensure business continuity and prevent disruptions that could ripple through the economy.

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We have seen that growth and we hope that the fuel price increase may have some impact, but we also hope that the measures being announced by government will help cushion that through targeted approaches. For us, as I stated in one of my earlier interviews, when we go through these shocks, we would like to work with our customers.

Encouragingly, the FDB notes a continued resilience in entrepreneurial spirit, with a steady inflow of new business applications. This suggests that, despite the economic headwinds, the drive to innovate and establish new ventures in Fiji remains strong. The bank, in collaboration with government initiatives, is poised to help businesses navigate these difficulties and continue contributing to Fiji's economic landscape.

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Difficult challenges that we face, like rising prices and the cost of living, I’m sure your entrepreneurial spirit looks through these challenges and sees opportunities.