Agriculture to remain Fiji’s backbone

Interim Minister of Finance Mahendra Chaudhry believes the agriculture sector will remain a backbone of the Fiji economy.

Chaudhry said the agriculture industry has not been delivering up to expectations because of the lack of finance to help those who rely on it as their main source of income.

He added with the new strategic plan for the Fiji Development Bank targets to try and get 60 percent funding into agriculture assistance and only 40% on manufacturing sector to boost the sector.

Currently FDB providing funding at a ratio of 72 percent housing and large corporate clients with only 28 percent towards agriculture assistance.