People in rural areas can expect better Government services after a three party agreement between a commercial bank, Government and a corporate organization.
This is after a new $10 million lease agreement was signed last night between Government, Bank of the South Pacific and Asco Motors which will see government leasing vehicles from ASCO Motors - financed by BSP.
Acting Finance Minister Aiyaz Sayed-Khaiyum said these 132 vehicles will be supplied to the government over a period of time and will be allocated to the various ministries however the focus will be on Police, Health and the Agriculture Ministry.
He added if government purchased these vehicles then they would have had to pay $10 million but with the leasing agreement the $10 million will be paid over a period of 4 years.
BSP Fiji Head Kevin McCarthy said the agreement sees Government pay monthly installments.
BSP said the interest rate will not be disclosed as it is a confidential matter.
Story by: Praneeta Deo
