Deputy Prime Minister and Finance Minister Professor Biman Prasad recently inaugurated three significant initiatives aimed at supporting rural farmers in Fiji. The launch event took place in Ba and was marked by agreements forged with the United Nations Capital Development Fund (UNCDF), the unveiling of a new house fire insurance policy from Sun Insurance Fiji Ltd, and the establishment of a loyalty program in partnership with Ba Motor Parts.
Professor Prasad highlighted that the UNCDF has supported Fiji since 2008, and under the new agreement, it has provided a grant of $US148,000 (approximately $F330,000) to the Sugar Cane Growers Fund. This funding will facilitate the rollout of two primary initiatives: a special Social Security savings scheme and a novel digital platform that enables emergency loans of up to $2000 via M-PAisa.
Additionally, the SCGF’s new insurance cover, effective from September 1, aims to support rural communities affected by house fires and other specified disasters. The policy covers various risks, including fire, volcanic eruptions, earthquakes, and more, with a premium starting as low as $140 per year.
Furthermore, the Ba Motor Parts loyalty program will offer a 12.5 percent discount on spare parts for farmers, and when combined with a 2.5 percent VAT reduction, it grants a total discount of 15 percent for participating farmers, emphasizing the importance of financial support and incentives for the agricultural community.
Ahemad Bhamji, chairman of the SCGF board, noted that the mobile loan initiative represents a significant first for growers, showcasing the innovative approaches being adopted to support the sugarcane farming sector. As of late July, a total of 2092 farmers have registered for the program since its launch in December 2024.
This initiative reflects a larger trend in aligning support for rural farmers through collaboration among various organizations. Previous efforts have shown significant advancements in providing necessary resources and support to enhance the livelihoods of farmers, reinforce economic resilience, and ensure sustainable practices within the agricultural sector. Overall, these developments present a hopeful pathway for the farming community in Fiji, bolstering their ability to withstand challenges while cultivating a brighter future.
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