New Pacific fund launched to support climate-resilient businesses

The newly launched Sustainable Pacific Blue Circle Fund will focus on helping small businesses across Fiji and the Pacific overcome financing barriers and build climate-resilient growth, says Minister for Finance and Business Development Esrom Immanuel.

Speaking at the official launch at the Grand Pacific Hotel in Suva today, Mr Immanuel said many micro, small and medium enterprises (MSMEs), particularly in rural and maritime communities, were locked out of funding opportunities because of a lack of collateral, weak business systems and limited technical support.

He said the fund would target enterprises in the blue economy, green economy and climate-resilient sectors while also providing technical assistance and investment preparation support.

The initiative aligns with Fiji’s National Development Plan and the Government’s push for sustainable economic growth, job creation and environmental protection, he said.

Mr Immanuel said the fund was designed to support farmers, fishers, women entrepreneurs, tourism operators and youth-led businesses by creating practical opportunities rather than leaving development plans as “abstract visions”.

He also highlighted that women and youth entrepreneurs remained disadvantaged in accessing capital and training, adding the fund aimed to place them at the centre of its strategy.

European Union Ambassador to the Pacific Barbara Plinkert said the fund would provide two pathways for businesses, including early-stage support for micro-enterprises and direct grants and financing support for high-impact MSMEs.

She said businesses would apply through transparent proposal processes with eligibility criteria aimed at ensuring fairness and impact.

Ms Plinkert said the initiative aligned with the Pacific’s 2050 Strategy for the Blue Pacific Continent and would support areas such as ocean conservation, climate adaptation, renewable energy and sustainable livelihoods.

The fund is backed by the European Union with support from the United Nations Capital Development Fund and the United Nations Development Programme.