The Cabinet has approved an increase in the Government’s guarantee limit for the Fiji Sugar Corporation’s domestic borrowings by $105 million, raising the total to $200 million for the period from August 1, 2022, to May 31, 2028. This decision will be presented in Parliament.
Previously, the Government has been providing guarantees for FSC’s domestic and offshore borrowings, with the latest domestic guarantee of $75 million approved by Parliament on July 28, 2022, covering the same period. This limit was subsequently increased by $20 million to $95 million on May 23, 2024.
The additional guarantee will enable FSC to secure more affordable local financing, reducing financial pressure and positively impacting the domestic economic environment.