ADB financing could open doors for small businesses

Fiji’s small businesses could gain greater access to finance under Asian Development Bank (ADB) initiatives aimed at closing investment gaps and helping local enterprises expand.

Minister for Industries, Commerce and Business Development Manoa Kamikamica discussed financing options with ADB representatives during a courtesy visit at Civic Tower in Suva on Friday.

The discussions focused on one of the biggest challenges facing micro, small and medium enterprises (MSMEs): access to capital to grow their businesses.

“Access to finance is a big issue,” Mr Kamikamica said, highlighting the difficulties small businesses faced in securing capital and accessing Government assistance.

MSMEs contribute about 18 per cent of Fiji’s gross domestic product (GDP), and the Government aims to increase that share to 40 per cent through stronger business development and targeted support.

ADB outlined its Wayfinder (Pacific) Programme, approved in June 2025, which provides financing for smaller private sector investments across the Pacific, including businesses that struggle to secure conventional bank loans.

The programme provides up to US$165 million in blended financing through loans, guarantees, concessional finance and grants, alongside up to US$15 million in technical assistance.

ADB also highlighted its Frontier Seed initiative, which provides eligible businesses with early-stage financing of up to US$400,000, as well as support in financial management, governance and marketing.

Two Fiji-based enterprises, SeaPAC and VOU, illustrate how investment can support businesses in emerging industries.

SeaPAC is developing local prawn production to meet domestic demand, reduce reliance on imports and create jobs. ADB Frontier support is helping finance farmland and production equipment for its expansion.

VOU, a Fijian performing arts company, provides employment and training for young people while promoting Fijian culture internationally. Its performing arts academy trains 20 young people annually, while ADB support has helped expand performances and international tours.

Mr Kamikamica also highlighted the potential of women-led cooperatives, citing a Nausori-based business that expanded its operations with practical assistance, including transport and equipment.

The meeting also discussed stronger coordination between ADB and Government ministries, particularly on policy reforms linked to development financing.

Continued engagement is expected to identify opportunities to connect Fijian businesses with investment, technical expertise and wider markets.