STATE-OWNED Fiji Development Bank (FDB) will make available blue financing for eligible projects beginning April 1 this year.
The projects, which must deliver focused environmental and social benefits, are aligned with the Eligible Blue Categories as defined in the Fijian Sustainable Bond Framework (FSBF).
This after the FDB launched its Sustainable Blue Financing Framework yesterday that includes policy and strategy statements, as well as the FDB Sustainable Blue Loans Guidelines.
The launch will see the development bank raising its own capital to lend to public and private sector entities incorporated in Fiji.
FDB chief executive officer Filimoni Waqabaca said special consideration would be given, but not limited to, investments in priority sectors – blue shipping and e-mobility, sustainable fisheries and aquaculture/mariculture, sustainable eco-tourism, and sustainable agriculture.
He said the Sustainable Blue Finance Framework was an attempt for the FDB to partner with development partners such as UNDP and UNCDF to ensure access to capital was broad, fair and equitable, and directed toward those who drove sustainable economic activity.
“It also is an attempt to partner with SME business owners, coastal and marine entrepreneurs, women and youth-led enterprises, those who have often been overlooked, as well as inland entrepreneurs operating within 50km from a river or stream,” Mr Waqabaca said.
He said the momentum was already building for the bank, and included expanding technical assistance frameworks for decarbonising transport, scaling up renewable energy, and advancing climate adaptation finance.
“The bank’s strategic plan aligns with these emerging markets when it comes to diversifying its revenue and funding base, enhancing customer service experience, market share growth, customer retention and acquisition, knowledge worker development and culture.
“The shift towards sustainability might not be fully realised but it is happening, and FDB is making sure that financial mechanisms match the pace of change.”
NOTE: This article was first published in the print edition of the Fiji Times dated MARCH 29, 2025.
