The government has signed a loan agreement with the Asian Development Bank (ADB) valued at approximately USD $70 million (FJD $160.3 million). This concessional loan, based on policy, will fund the Fiji Climate Resilience and Sustainable Growth Programme.
During the signing event at the Pacific Island Forum in Suva, Minister for Finance Biman Prasad noted that over the past six fiscal years (FY2019-FY2024), the government, in collaboration with development partners, has implemented a comprehensive reform programme to enhance Fiji’s governance and public financial management.
Mr. Prasad mentioned that these reforms are supported by blended financing from development partners through concessional loans and grants, amounting to over $2 billion in the past six fiscal years. He added that for FY 2024, development partners involved in Budget Support programmes include the World Bank, Asian Development Bank, the governments of Australia and New Zealand, and the European Union.
“This collaboration has allowed the Fiji Government to secure nearly FJ$542.0 million in Budget Support funding, comprising concessional loans and grants,” he said.
Mr. Prasad explained that the policy reforms have been achieved through a coordinated government effort. He highlighted that the ADB’s Programme consists of two subprograms, with the second accessible in 2026. The current programme aims to improve public financial management for fiscal resilience and inclusion, strengthen the enabling environment for private sector development, and enhance climate and disaster resilience.
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