A new financing initiative is set to enhance environmental sustainability in Fiji with the launch of the “FDB Sustainable Blue Finance Framework.” This framework aims to provide financial support to business operators committed to protecting Fiji’s marine and coastal ecosystems. The project has been developed through a two-year partnership involving the United Nations Development Programme and the United Nations Capital Development Fund.
Filimoni Waqabaca, the Chief Executive Officer of the Fiji Development Bank (FDB), emphasized the bank’s dedication to mobilizing resources that align with Fiji’s climate goals and sustainable development objectives. He stated that the initiative not only seeks to minimize the environmental impact of business operations but also aims to restore and enhance local ecosystems and support the communities that depend on them.
Esrom Immanuel, the Assistant Minister for Finance, remarked on the potential of this framework in unlocking the development capabilities of Fiji’s blue economy. He highlighted the importance of developing local solutions to attract various types of blended finance from partners, including multilateral organizations and private investors.
The framework will become operational on April 1, when FDB will begin offering financing options for businesses seeking to transition to sustainable practices. To make financing more accessible, the bank plans to offer interest rate concessions.
This initiative is part of a broader trend seen in recent months, where collaborations between FDB and various sectors aim to bolster local enterprises’ capabilities. Previous efforts, such as supporting resource-owned businesses with essential machinery, reflect a growing commitment to empower local industries and foster economic resilience in Fiji.
By promoting sustainable practices and supporting local entrepreneurs, this framework brings hope for a greener future, reflecting a collective effort toward enhanced environmental stewardship and economic growth.
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