In efforts to try and increase exports, the Fiji Development Bank last night launched its Export Credit Facility.
While delivering the keynote address, Acting Interim Prime Minister Ratu Epeli Nailatikau highlighted that the facility is the first of its kind to be administered by the bank.
The facility will enable an exporter to obtain $20,000 per export at a low interest rate of 4 percent, which ensures that the interest rate charged is sufficient to cover the administration costs of the Export Credit Facility.
The FDB has put aside $1.5 million to set up the credit facility and Ratu Epeli stressed that only exporters in the six sectors, agro business, marine products, forestry, mineral water, audio visual and ICT will be eligible to tap into the facility.
FDB Launches Export Credit Facility
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