20 Jan 2009

Call on Fiji banks to ease conditions because of flooding

3:31 pm on 20 January 2009

Suva's chamber of commerce says businesses want Fiji's banks to offer better terms for loans to help flood-affected small businesses recover quickly.

Its secretary Sunil Sharma says the chamber is co-ordinating business support from around Fiji.

For businesses in Nadi, one of the worst affected towns, insurance is not an option to fall back on because it's a high risk area for flooding.

Although banks have offered short-term interest-free loans, he says, flood affected businesses will need a lot more than that if they are to survive.

"The banks have actually come out with some assistance, but we see that three-months interest-free loan repayments is not good enough. So we are negotiating, as the chamber of commerce throughout Fiji, we are negotiating in terms of longer terms - like 12 months no repayment kind of concept."

Sunil Sharma says small businesses are also trying to negotiate an assistance package with the interim government.