The Fiji Development Bank has today released its "Strategic Plan for 2009-2011".
Speaking at the launch, Interim Finance Minister Mahendra Chaudhry said over the years the bank has strayed from its founding principle to facilitate and stimulate the promotion and development of natural resources, transportation and enterprises in Fiji.
Chaudhry said in the past decades the bank was concentrating more on real estate loans and private sector business entities and it is time to move away from it.
He has issued the challenge that the FDB now will have to look at areas like agriculture, fisheries and forestry to assist them.
Almost 72 percent of the FDB lending today represents sector like building and construction, private home loans and leasing.
Only 28 percent is directed towards its real purpose which the bank was set up development of resource based sectors.
FDB Releases Strategic Plan
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