Two provincial councils have supported the directive issued by Interim Finance Minister Mahendra Chaudhry to the Fiji Development Bank to relook at its operations and focus on agricultural and small business loans.
Tailevu Provincial Council Chairman Josefa Serulagilagi said FDB has not focused on its core functions for the past few years.
Kadavu Provincial Council Chairman Ratu Jo Nawalowalo echoed the same sentiments saying people staying in the rural areas will benefit from the change.
Meanwhile, ousted Prime Minister and former FDB manager Laisenia Qarase said the FDB could be heading towards bankruptcy in the years to come as records of the bank will show agricultural and small business loans have incurred heavy losses for the bank.
Provincial Councils Support Directive
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