FDB launches new loan facility for women entrepreneurs

FDB launches new loan facility for women entrepreneurs

By Krishneel Nair
Saturday 23/07/2022
FDB CEO, Mr Saud Minam with women entrepreneurs at the mini-market day. Photo:FDB

Women entrepreneurs operating as sole traders, joint ventures and partnership businesses will be able to benefit from Fiji Development Bank’s new loan facility.

The purpose of the loan can be for working capital needs or expansion of business.

Women entrepreneurs can take a minimum loan of $1,000 to $5,000 with a maximum loan term of 3 years.

10% equity will be provided by the Fijian Government.

FDB has launched this facility to promote gender and diversity as part of its 55th anniversary celebration.

While officiating at the anniversary celebration, Minister for Economy, Aiyaz Sayed-Khaiyum says with this new initiative, FDB will be able to expand its footprint, particularly in the female entrepreneurship space.

Hon Mr. Aiyaz Sayed-Khaiyum meeting the women vendors at the FDB mini-market day. Photo:FDB

He says the idea is to get more women in the area of business.

FDB’s CEO, Saud Minam says they are aggressively approaching their target customers and would like to have 50,000 customers by the end of 2025 with a focus remaining on SMEs, MSMEs and agriculture.

Minam says they are aiming to raise the value of female loan applicants within FDB from 11 percent to 25 percent in the next three years.

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