16 Jul 2020

Big loan from ADB to help Fiji Covid-19 response

6:46 pm on 16 July 2020

The Asian Development Bank is loaning $US200 million dollars to Fiji to boost private sector investment.

No caption

Photo: Twitter / @@FijiNDMO

According to the ADB, its loan is aimed at helping the country cope with the impact of Covid-19 which has devastated Fiji's all-important tourism industry among other sectors.

The loan is reportedly to help create a more conducive environment for private investment and business owners.

It will also support reforms in the management of public finances and strengthen the performance of state-owned enterprises.

The assistance is the third phase of a programme being done in partnership with Australia, New Zealand and the World Bank.

The ADB's Pacific director general, Leah Gutierrez says they want to help create a business environment that drives economic recovery and long-term growth through investment.