ANZ Fiji has completed the documentation of a FJ$120 million structured trade finance facility for the Fiji Sugar Corporation.
This is financed by ANZ and guaranteed by the Government of Fiji.
ANZ Fiji CEO Norman Wilson said this is a landmark trade finance deal for the country’s sugar industry and reassured the bank’s support in the reinvigoration of the industry.
“The industry directly and indirectly employs about 200,000 people in Fiji and we are committed to supporting the sustainable growth and employment in Fiji’s key sectors, of which sugar is pivotal,” Wilson said.
In 2011, ANZ, the Fiji Government and FSC completed a study to look at solutions to revitalise the industry.
A formal signing ceremony between the bank and FSC will be held in Nadi today.
By Ropate Valemei