The Cabinet has approved a proposal to raise the Government guarantee limit for the Fiji Sugar Corporation’s (FSC) domestic borrowings from $95 million to $200 million. This adjustment will apply for the period from August 1, 2022, to May 31, 2028.
Previously, the government provided a domestic guarantee of $75 million, which was approved by Parliament on July 28, 2022. This limit was increased by an additional $20 million to reach $95 million on May 23, 2024.
The increased guarantee will enable the FSC to secure more affordable financing locally, easing financial burdens and benefiting the overall domestic economy.