The Fiji Times » Fiji government guaranteed domestic and offshore borrowings of FSC–AG

Attorney General and Economy Minister Aiyaz Sayed-Khaiyum said the government had guaranteed the Fiji Sugar Corporation’s domestic and foreign borrowing “for several years”, including a $50 million loan from the National Development Fund. Fiji foresight.

He said this as he spoke on a motion asking parliament to approve a $75 million government guarantee for domestic borrowing from the Fiji Sugar Corporation (FSC), which was passed unanimously by the Bedroom.

“FSC’s outstanding borrowings guaranteed by the Government of Fiji as at 31 May 2022 amounted to $237.8 million, of which $166 million is backed by a national government guarantee and $71.8 million or 32 $.7 million is covered by an offshore government guarantee,” said the AG.

“The current entities that have loans that have been approved are the RBF (Reserve Bank of Fiji) Flood Rehabilitation Fund, the RBF Rehabilitation Fund again and the Sugar Cane Growers Fund, the loan FDB (Fiji Development Bank) machinery, the FDB loan of $7 million, FDB loan of $8 million, FDB loan of $10 million, Bred Bank loan of $20 million, $50 million FNPF, $30 million HFC overdraft facility, $22 million three-month HFC overdraft facility.

“And of course, as pointed out earlier, the Export-Import Bank of India of $50.4 million.”

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