Koya says they do not intend to turn the FDB into the NBF after Nawaikula says that it is a very serious matter that govt guarantees FDB borrowings

Minister for Commerce Faiyaz Koya says they do not intend to turn the Fiji Development Bank into the National Bank of Fiji after SODELPA MP Niko Nawaikula highlighted that it is a very serious matter for the Government to guarantee the FDB borrowings.

He stated this while speaking on the motion by the Acting Prime Minister that the Government guarantee the Fiji Development Bank borrowings for the 12 month period from 1 March 2022 to 28 February 2023 through the issuance of short and long-term bonds, promissory notes, term deposits, any RBF financing facility and other short-term borrowings.

Koya says the outstanding guarantee to FDB is only $344 million and not the $2.1 billion that was highlighted by Nawaikula.

Nawaikula and NFP Leader Professor Biman Prasad then raised a point of order stating that what Koya was saying was incorrect.

Koya says this motion is also not to finance the election campaign like what is being alleged by Nawaikula.

While speaking on the motion, Nawaikula says the public should now expect some handouts as government is giving cash out to them.

He says given the desperate situation that Fiji is in at almost neck level in relation to debts and liabilities, it is a very serious matter to consider and agree to another $200 million in Government guarantee.

Nawaikula says this is a very big undertaking to push us deeper into the debt level.

He says they are primarily concerned in the manner that they have now been abused in bringing this motion without notice, and without the necessary information for them to make a mature judgement.