We firmly believe that through strategic partnerships and targeted interventions like the Dairy Farming Loan under the Agriculture Value Chain Financing model, we can create a more sustainable and resilient dairy sector.
Minister for Agriculture, Vatimi Rayalu stated this at the launch of Fiji Development Bank’s Dairy Farming Loan facility in Nausori, adding that FDB has recognized the need for a dedicated and tailored financing solution for the dairy farmers.
Rayalu says this initiative not only aligns with the government's priority of ensuring food and nutritional security but also demonstrates their commitment to the growth of the dairy industry and the welfare of farmers.
He says FDB has taken a significant step by redesigning its Dairy Farming Loan and integrating it into the Agriculture Value Chain Financing model.
The Minister says recognising the essential role of the dairy industry in ensuring food security, economic growth, and rural development, the FDB's initiative aims to provide enhanced support to dairy farmers.
Fiji Development Bank CEO, Saud Minam says by incorporating the Dairy Farming Loan into the Agriculture Value Chain Financing model, the FDB aims to contribute to the government's priority of strengthening the dairy industry as a whole.
Minam says the model emphasizes the importance of a well-coordinated and integrated approach, considering the entire value chain from farm to market.
He says this facility allows for loans of up to $100,000 to be obtained for a range of purposes with an interest rate of 4.98 percent.
The FDB CEO thanked Fiji Cooperative Dairy Company Limited for collaborating with the development bank on this important initiative.
He says the importance of the Memorandum of Understanding between FDB and FCDCL is a significant step towards linking farmers, suppliers, and financial service providers.
Minam says this Dairy Farming Loan facility comes with several key features and benefits that address the specific needs of the dairy farmers.
He says with flexible financing options, competitive interest rates, and loan repayment structures tailored to the industry's requirements, they aim to make financial assistance easily accessible to those who need it the most.
