Business operators that align with our Environmental Sustainability, and the protection of Fiji’s Marine and Coastal Ecosystems – now have a financing opportunity, thanks to the launch of the “FDB Sustainable Blue Finance Framework”.

The framework is developed through a two-year collaboration, with the United Nations Development Programme and the United Nations Capital Development Fund.

FDB Chief Executive Officer Filimoni Waqabaca said that the FDB Sustainable Blue Finance Framework is part of the bank’s commitment to mobilize financial resources to meet Fiji’s climate objectives and sustainable development aspirations.

“FDB acknowledges the importance of incorporating sustainability in our business decision-making, aiming to minimise the negative social and environmental impact of our services, and ensuring they can contribute positively, including the protection, restoration and enhancement of ecosystems and the people who depend on them”, Waqabaca said.

“The bank is committed to mobilize financial resources to meet Fiji’s climate objectives and sustainable development aspirations. So, today’s launch will see FDB raising its own capital to on lend to public and private sector entities incorporated in Fiji”, he added.

Assistant Minister for Finance Esrom Immanuel said that the framework will unlock the development potential of Fiji’s blue economy.

“To truly mobilize the financing required for our sustainable development ambitions, we must create locally grown solutions that unlock this domestic capital. Only then can we effectively attract blended finance from bilateral partners, multilateral funds such as the Green Climate Fund and the Global Environment Facility, philanthropic organisations, and foreign private investors”, he said.

UNDP Resident Representative Tuya Altangerel said that the framework should be made accessible for those green businesses in the grassroots.

Starting 1st April, FDB will offer financing options for businesses aiming to transition toward sustainable operations.

The bank plans to offer interest rate concessions to make financing more accessible.