Motion passed for parliament to guarantee FDB loans

A motion for the Government to guarantee borrowings of the Fiji Development Bank from 1st March this year to 28th February next year has been passed in parliament.

There was opposition to the motion and parliament voted through acclamation.

The Government is guaranteeing $200 million through that period.

Acting Prime Minister Aiyaz Sayed-Khaiyum says it would be negligent to not guarantee the FDB loans.

He says the Opposition has not given any feasible alternative.

Sayed-Khaiyum says there are systemic issues that the Opposition does not want to address like the non-renewal of leases in the 1990s.

He adds there are ginger farmers who have collectively received nearly $1 million in loans in the last 8 months from FDB and there is a new package being put together for the new season.