The Fiji Development Bank (FDB) is working to improve dairy farmers’ access to financing, with a new partnership aimed at increasing milk production and strengthening Fiji’s dairy industry.

FDB Chief Executive Officer Filimone Waqabaca says the partnership with the Fiji Cooperative Dairy Company Limited (FCDCL) will help farmers identify suitable investment opportunities and access financing to improve their farm operations.

Speaking at the signing of a Memorandum of Understanding (MOU), Mr Waqabaca says increasing milk production requires more than hard work, with farmers needing investment in infrastructure, quality livestock, pasture development, machinery and farm equipment.

He says the partnership will bring together FDB’s development financing expertise and FCDCL’s industry knowledge to help farmers better understand their financing needs and prepare viable loan proposals.

The initiative will also focus on improving farmers’ financial literacy, farm-business management, record-keeping and climate-resilient farming practices.

Mr Waqabaca stresses that the partnership is not simply about providing loans, but ensuring that financing translates into productive investment, improved farm performance and stronger livelihoods.

He says each farmer has different needs and aspirations, and all financing applications will be assessed responsibly in accordance with the bank’s lending requirements.

As part of the initiative, dairy farmers were encouraged to engage directly with FDB representatives to discuss their investment plans and financing needs.

Mr Waqabaca says farmers with the required supporting documents could submit their loan applications on the day, with the possibility of receiving a financing decision on the same day, subject to the bank’s terms and conditions.

The partnership is expected to provide a more coordinated approach to addressing the financing challenges faced by dairy farmers, while supporting the long-term sustainability of Fiji’s dairy industry and contributing to national food security.

For FDB, the focus is on ensuring that farmers can turn viable business ideas into productive investments that support the growth of their farms and the wider agricultural sector.