The Fiji National Provident Fund will cease its COVID-19 Micro Business Assistance on 12 May 2023.

To date, the Fund has paid out $905,231.62 to 168 members. Launched in October 2021, the Assistance was a relief product the Fund introduced during the COVID-19 pandemic period, targeting members aged 50-54 years with their plans for income generating activities.

FNPF chief executive officer Viliame Vodonaivalu said that although the product had a low take-up rate, it had served its purpose amid unprecedented times.

“We had received 331 applications in total, out of which these 168 members qualified for the assistance during the product’s operating term,” said Mr. Vodonaivalu.

“The FNPF Board has approved the closure of the product as it was intended to be a temporary relief assistance during the COVID-19 pandemic.”

“We are also aware of similar products offered by other financial institutions, targeting the same group that members can explore and we know that many would have now been re-employed or found new employment.”

“I also congratulate our members who have opted to venture into micro business because they’ve taken it upon themselves to contribute to the economy as SMEs are an integral part of the Fijian economy,” said Mr. Vodonaivalu.

Source: Fiji National Provident Fund

Story by: frederica.elbourne@fijisun.com.fj