The Fiji Development Bank (FDB) and the Fiji Cooperative Dairy Company Limited (FCDCL) have signed a memorandum of understanding (MoU) to give local dairy farmers better access to financing and remove long-standing administrative bottlenecks.
The partnership combines FDB’s development financing expertise with FCDCL’s industry knowledge to create a stronger pathway for viable farming businesses to grow.
Backed by the Asian Development Bank (ADB) consultants and the Ministry of Agriculture, the initiative that was signed at Waidalice in Tailevu yesterday will help farmers identify investment needs, maintain basic farm records, and prepare bankable loan proposals. To assist farmers obtain immediate capital access, FDB deployed its Suva and Nausori branch teams directly to Waidalice, with chief executive officer Filimone Waqabaca challenging his staff to deliver same-day loan approvals for farmers with complete documentation.
“Importantly, this partnership is not simply about providing loans. It is about ensuring that finance translates into productive investment, improved farm performance, stronger livelihoods and a more sustainable dairy industry leading to a better culture,” Mr Waqabaca said.
Addressing the credit processing delay, Mr Waqabaca said: “I keep challenging our staff at FDB. I want same-day approval. So if you have everything, we will do same-day approval for you here.”
The credit lines are aimed at pasture improvements, fencing, livestock, and machinery.
FCDCL board chairperson Uraia Waibuta urged dairy operators to immediately capitalise on the fast-tracked credit process to increase milk production.
“The level of commitment has been made by the CEO himself. Why not? Let’s ride on that opportunity with papers in place, and shorten the process of the approval process, which has been a bottleneck for some of us over a certain period of time,” Mr Waibuta said.
He acknowledged that internal work was still required to fix FCDCL’s own financial systems to allow the process to flow but emphasised that the cooperative’s staff were ready to support farmers.
Mr Waibuta also cautioned that long-term operational commitment was required to transform the sector.
“Signing of the MoU is one thing, but materialising the MOU, that’s another issue.”
He said without the highest level of commitment from farmers to FCDCL, “we are here to assist in materialising whatever needs that is there with you in order to grow the industry”.
