Australian taxpayers will guarantee a loan of $106 million to Fiji Airports Ltd for its capital works projects.
The Australian Infrastructure Financing Facility for the Pacific (AIFFP) that is administered by the Department of Foreign Affairs and Trade has guaranteed the loan through the ANZ Bank.
“The total financing facility is $106 million with no foreign exchange exposure for Fiji Airports,” said Fiji Airports Ltd communications and public relations manager Christopher Chand.
“This facility has been undertaken without a Fijian Government guarantee.
“ANZ Bank has provided the substantive portion of loan funds with the balance $10 million and a support guarantee provided by the Australian Infrastructure Financing Facility for the Pacific (AIFFP).”
ANZ chief executive Shayne Elliott said the bank has partnered with AIFFP to support Fiji Airports’ capital works projects.
“Investing in infrastructure that puts Fiji in a position to quickly scale up capacity once international travel resumes is critical to driving future growth,” he said.
“The partnership with AIFFP draws on ANZ’s global banking expertise and local industry insights to support the rebuild of Fiji’s economy.”
Mr Elliot said the capital works included at Nadi and other outer islands’ airports will see an upgrade of aprons, expanded aircraft parking and a modern air traffic management system.
ANZ regional executive Pacific Tessa Price said this funding demonstrated the bank’s deep commitment to the Pacific.
“Fiji is the hub of the Pacific and we are optimistic about the long-term future of the region,” she said.
“Naturally, Fiji’s national airport infrastructure will play a key role in Fiji’s economic recovery.
“We’re pleased to partner with the Australian Government to help deliver a critical piece of infrastructure for the Pacific.”
