World Bank approves $102.7 million loan to support Fiji’s recovery

The World Bank has approved a $102.7 million loan to support Fiji’s recovery from the impacts of COVID-19 and Tropical Cyclones Harold and Yasa.

The funds will be used to support the government’s COVID-19 relief measures which will focus on cash transfers for Fijians in the formal sector who have lost jobs or have had their working hours reduced as a result of COVID-19.

The cash transfers will be made through the Fiji National Provident Fund.

The project will improve access to labour market services and employment support programs to assist informal sector workers.

It will also assist the government through strengthening the country’s social protection system and facilitating access to social protection services for all Fijians.

Minister for Economy, Aiyaz Sayed-Khaiyum says facing a barrage of cyclones or the collapse of our tourism markets on our own would be crippling for the Fijian economy.

Sayed-Khaiyum says this capital infusion is a lifeline to thousands of vulnerable Fijians who need urgent assistance.

World Bank Resident Representative for the South Pacific Lasse Melgaard says this support is part of their commitment through the World Bank Group’s new work plan for Fiji.

Melgaard says they are committed to helping those Fijians who are most affected by the impacts of COVID-19 as they continue to work together to boost Fiji’s resilience.