Fiji has secured new funding to improve its preparedness for natural disasters after signing a loan agreement with Japan.
Attorney-General Aiyaz Sayed-Khaiyum signed a standby loan agreement worth $98,986,440.50 FJD (5 Billion Japanese Yen) with the Japan International Cooperation Agency (JICA).
The A-G said the standby loan is a facility Fiji could tap following damage assessments in the aftermath of a natural disaster.
“This new agreement is testament to the Japanese Government’s endorsement of Fiji’s prudent financial management. This funding is contingent upon the impressive macro-economic and public finance management of the Fijian Government.”
The Resident Representative of the JICA Ms Yukari Ono said the availability of this facility will help place Fiji in a stronger state of readiness for natural disasters