DEPUTY Prime Minister and Finance Minister professor Biman Prasad officiated at the launch of three initiatives designed to assist rural farmers .
The event held in Ba on Saturday, included the signing of agreements with the United Nations Capital Development Fund (UNCDF), the launch of a house fire insurance cover from Sun Insurance Fiji Ltd, and a loyalty program partnership with Ba Motor Parts.
Prof Prasad said UNCDF had been a partner to Fiji since 2008.
“With this new agreement, UNCDF is providing a grant of $US148,000, that’s equivalent to about $F330,000, to the Sugar Cane Growers Fund enabling the rollout of two key initiatives — the fund’s ‘5s’ special Social Security savings scheme, developed with the Unit Trust of Fiji, and a new digital platform providing emergency loans of up to $2000 via M-PAisa.
Prof Prasad also launched the Sun Insurance Ltd SCGF Ltd Peril cover, effective from September 1.
The cover is designed to assist rural communities with structural damage caused by house fires and other specified perils.
He also announced the Ba Motor Parts and SCGF Loyalty Program, making Ba Motor Parts the 22nd partner.
Prof Prasad said the program offers a 12.5 percent discount on spare parts, which, when combined with a 2.5 percent VAT reduction, provides a total 15 percent reduction on prices for farmers who are members.
On the UNCDF agreement, SCGF board chairman Ahemad Bhamji confirmed the revolving loans through mobile platform would be a first of its kind for growers.
The new Sun Insurance package covers fire, volcanic eruption, earthquake, tsunami and lightning for $140 in premium a year for $20,000 insured and $169 a year for $30,000 plus value add of funeral cost of $1000 and death benefit for $2000.
Mr Bhamji said discussions were in progress with a petroleum company for a rebate under their loyalty program.
Mr Bhamji said as of July 31, 2092 farmers had been registered with the program since its inception in December 2024.
