Partnership to boost affordable housing

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PRB general manager Timoci Naleba, left, with FDB CEO Filimone Waqabaca at the signing of the MOU early this week. Picture: SUPPLIED
PRB general manager Timoci Naleba, left, with FDB CEO Filimone Waqabaca at the signing of the MOU early this week. Picture: SUPPLIED

THE Fiji Development Bank (FDB) and the Public Rental Board (PRB) have signed a Memorandum of Understanding (MOU) to develop and implement a comprehensive housing revitalisation strategy.

The initiative, they said in a joint statement this week, focuses on increasing homeownership and improving living standards while encouraging inclusive housing development across the country.

“The MOU aligns the institutions’ complementary strengths to target one of Fiji’s most persistent social gaps: affordable housing,” they stated.

“Affordable housing will always be a concern and this alliance brings the most unique and tangible solution the country has yet to witness.”

While details of their new deal have yet to be released, the two entities described their new partnership as a collaboration that aimed to “address Fiji’s growing housing shortage for low- and middle-income earners while attracting private capital into affordable housing projects.”

FDB chief executive officer Filimone Waqabaca FDB remained committed to promoting national development by enhancing the socio-economic well-being of communities through the provision of accessible and inclusive financial services.

“With FDB providing the capital and PRB delivering the on-the-ground expertise, this partnership bridges the gap between financial access and real home ownership outcomes for everyday Fijians.

Together, we have created an impactful solution to give hard working families the confidence and wherewithal to build their own secure future.”

PRB general manager Timoci Naleba said both institutions recognised the urgent need to address housing shortages and improve living standards for low- and middle-income earners.

“For many Fijians, especially informal workers, this collaboration offers something they’ve long dreamed of but never quite reached: a home to truly call their own,” he said.

“Through FDB’s accessible tailor-made financing solution, and PRB’s deep grassroots reach, financially challenged families can now finally, realistically see and afford the path to owning their own home.”

Note: This article was first published on the print version of the Fiji Times dated July 19, 2025