The Fiji Times »Bank plans to support local dairy industry

The Fiji Development Bank plans to sign a Memorandum of Understanding under the value chain concept with the Fiji Co-operative Dairy Company Ltd and Fiji Dairy Pte Ltd to encourage local dairy production.

In a statement by the bank’s chief executive, Saud Minam, said the number of dairy farms exceeded a thousand, as the amount of milk exported had also increased.

“There is a huge opportunity to get into dairy farming and the impact it will have on our livelihoods and its contribution to the economy.

“This was reflected in the large number of farmers who attended the FCDCL AGM on December 17th.

“Therefore, it is essential that we strengthen partnerships to increase resilience. “

He said that with access to financing from the FDB, smallholder dairy farmers could unlock the potential of their land by purchasing equipment, improving their dairy cattle and milk production sheds, while allowing them to sell the land. surpluses in the markets, considerably increasing their income.

“FDB’s support through this link will build on the path of food security, resilience in the context of a post-COVID recovery,” he said.

The FDB continued its efforts to create and strengthen links so that it could tailor targeted financial solutions to the target segment that would ultimately develop and support the Fijian economy.

Minam said the FDB has many financing options for those who want to get into agriculture or SMEs.

“Part of the support that the FDB has recently partnered with is with the Ministry of Agriculture for the Commercial Farmers Equity Program to promote the expansion of commercial agriculture by strengthening financial assistance to farmers and to agro-industries in improving agricultural mechanization and agricultural infrastructure, ”he said.

“We have approved over $ 1 million to ginger growers to support development costs for land clearing, increase the capacity of existing farmers, cover labor and transport costs, and purchase seedlings. for new farmers. “

FDB, through its digital transformation, would also simplify relations with the bank.