Over 5,000 applications for concessional loans for micro, small and medium enterprises have been assessed, out of which more than 3,700 have been approved at the value of $22.5 million.
This has been revealed by the Minister for Commerce and Trade, Faiyaz Koya who says the Fiji Revenue and Customs Service has already disbursed close to $13 million to these businesses.
Koya says in an effort to support livelihoods, the Fijian government introduced this initiative that will go towards existing businesses worst affected by the pandemic.
He says these business also includes those aspiring entrepreneurs who may have been laid off, but have particular skills to start their own business.
The Minister made these comments during Tanoa Hotel Group Trade Show where he says ‘going local’ is undoubtedly one of the most effective, and strongest strategies for businesses to deploy.
Koya says that many businesses and Fijians associated with the tourism industry are suffering, but even during this difficult time, there is hope through those who have still laboured on.
He says earlier this year, the Fijian government launched the “Love Our Locals” campaign to build consumer confidence and ignite economic activity in the tourism sector.
Koya thanked the Tanoa Group for using this platform to introduce guests to new experiences.
Stay tuned for the latest news on our radio stations
