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FDB converts dairy farming loan into new model

The redesigned Dairy Farming Loan facility by the Fiji Development Bank (FDB) is a testament to the commitment and seeks to address the unique financing needs of dairy farmers across Fiji.

Fiji Development Bank (FDB) Chief Executive Saud Minam says by incorporating the Dairy Farming Loan into the AVCF model, allows for loans of up to $100,000.00 to be obtained for a range of purposes with an interest rate of 4.98 percent.

Minam highlighted this during the launch of FDB’s Dairy Farming Loan facility in Nausori today, saying incorporating the Dairy Farming Loan into the AVCF model, the FDB aims to contribute to the government’s priority of strengthening the dairy industry as a whole.

He said the AVCF model emphasises the importance of a well-coordinated and integrated approach, considering the entire value chain from farm to market.

“This Dairy Farming Loan facility comes with several key features and benefits that address the specific needs of our dairy farmers. With flexible financing options, competitive interest rates, and loan repayment structures tailored to the industry’s requirements, we aim to make financial assistance easily accessible to those who need it the most.”

“This facility will assist farmers in modernizing their operations, improving animal husbandry practices, and enhancing the quality of milk production.”

Minam thanked Fiji Cooperative Dairy Company Limited (FCDCL) for collaborating with the development bank on this important initiative.

He emphasized the importance of the Memorandum of Understanding (MoU) between FDB and FCDCL as a significant step towards linking farmers, suppliers, and financial service providers.

The applications will open next week Friday, 8th September 2023 through the FDB website.

Artika Ram
Artika Ram
Cadet Journalist | news@fijilive.com

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