The role that FDB plays is very important in the development of our communities – Bulitavu

SODELPA MP Mosese Bulitavu says the role that the Fiji Development Bank plays is very important in the development of our communities and how the economy grows in the rural areas.

While speaking on the motion that Parliament approve that the Government guarantee the Fiji Development Bank borrowings for the 12 month period from 1st March 2022 to 28th February 2023 (‘Guarantee Period’) through the issuance of short and long-term bonds, promissory notes, term deposits, any RBF financing facility and other short-term borrowings; that the Government guarantee the sum of $200 million for the Guarantee Period; and that a guarantee fee of 0.075% be applied on the cumulative utilised guarantee credit, Bulitavu says members of parliament as leaders must support this kind of guarantees because it supports an enabling institution.

He says there is no direct funding that is given but just a guarantee.

The SODELPA MP also says FDB plays a very important role in elevating the economic status of all Fijians and especially the indigenous community in the rural areas moving into business.

Bulitavu adds that if the opposition becomes government they will also seek guarantees too to help the FDB in the important role it plays.