$23m outstanding: FDB to extend repayment period

Fiji’s government-owned bank is expected to extend the recovery period for a loan facility that expires this year. Fiji Development Bank is owed $23 million of the $63 million is-sues under the COVID-19 loan facility.

SunBiz understands the bank will have extend the repayment period beyond this year, even though there is confidence of some recovery as business picks up.

The bank had advertised a thank you note in acknowledgement of those who had honoured their repayment in full.

Fiji Development Bank has since issued the reminder that the sums involved were not in the form of a grant.

Those with repayment challenges have been strongly urged to make immediate arrangements with the bank to avoid travel ban, and listing on the credit data bureau.

“We are ready to help; delay or lack of communication limit the assistance we can provide,” the bank advertisement said.

“Early engagement allow us to explore suitable arrangements and identify a responsible way forward.” Questions sent to the bank were unaswered when this edition went to print.