Race Card Will Hinder Progress
These are the words of the Interim Prime Minister Commodore Frank Bainimarama in response to ousted Prime Minister Laisenia Qarase's latest comment that new policy directives for the Fiji Development Bank would be detrimental to Fijian business interests.
Contrary to Qarase's claims, the Interim PM said it will help the indigenous people develop their resources, which in turn would improve their incomes and quality of life.
The Commodore said FDB's new policy directive will steer the bank's focus back to the natural resource-based sectors of the economy and the original purpose for which it was created.
Bainimarama said the main aim of the interim government is to put FDB back on the right course, that is to refocus and realign the Bank's lending priorities to the productive sectors of the economy which is the agricultural sector, the development of natural resources and import substitution and agricultural export sectors.
He adds this sector will get 60% of the Bank's loans.
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