Fiji will receive additional financial support from international partners and donors. [Photo: FILE]
Fiji will receive additional financial support from international partners and donors as the government works to cushion the impact of rising fuel costs and growing economic pressures affecting households and businesses.
Following a recent media briefing, Finance Minister Esrom Immanuel confirmed that budget support is expected from key development partners, including Australia and New Zealand, to strengthen Fiji’s fiscal position during the ongoing global fuel crisis.
“At the same time, we are securing additional financing support from our development partners. Australia has committed to a budget support grant of AUD 30 million, while New Zealand will provide NZD 8.5 million in budget support.”
The Minister says the government is also engaging with major multilateral institutions to secure further funding support for the next financial year.
“The Ministry of Finance is also engaging with the multilateral development institutions, including the World Bank, Asian Development Bank and Asian Infrastructure Investment Bank, to secure additional debt financing for the next financial year. In addition, the Government is working closely with domestic financiers, including FNPF and other institutional investors, to mobilise further financing support for the upcoming Budget.”
The government says further support measures are expected to be announced in the upcoming national budget as Fiji continues responding to the impact of rising global fuel prices and economic uncertainty.
