The COVID-19 pandemic has severely impacted small and medium-sized businesses in the country.
The Reserve Bank has come up with financial assistance package to assist SME’s, however meeting the criteria of these funds is a challenge for many businesses.
The COVID-19 crisis has a significant financial impact on small businesses that may not have enough reserves.
President of the Fiji Chamber of Commerce and Industry Dr Nur Bano Ali says SME’s are struggling to keep businesses afloat.
Dr Ali says the Fiji Chamber of Commerce and Industry has written to the Reserve Bank of Fiji to provide grants so that SME’s can meet the eligibility requirements.
SME’s can access funds from RBF through an application to a commercial bank with the assistance from the Fiji Chamber of Commerce and Industry.