February 22, 2021
1 min read

Fiji, Japan ink emergency loan deal

The loan, which is the largest in Japan’s loan history of aid and assistance to Fiji, comes with concessions such as a 0.01 percent interest rate and 15 years of repayment period with 4 years grace period….reports Asian Lite News

Fiji and Japan inked an emergency loan deal here on Monday, which would offer Fiji 200 million Fijian dollars loan from Japan.

During the signing ceremony, Prime Minister Voreqe Bainimarama said that the best way to build resilience over the long-term is to bring Fiji’s Covid-hit economy fully back to life and this loan will allow the island nation to further strengthen its Covid defences, particularly its public health systems, according to a statement from the Fijian government.

The loan, which is the largest in Japan’s loan history of aid and assistance to Fiji, comes with concessions such as a 0.01 percent interest rate and 15 years of repayment period with 4 years grace period.

Fiji has had 56 cases in total, with 54 recoveries and 2 deaths, since its first case was reported on March 19 last year. The last 38 cases have been international travel associated cases detected in border quarantine.

Covid-19 has seriously impacted upon Fiji’s economy which contracted by 19 per cent last year.

Currently, Fiji still maintains a strict travel restriction for foreign visitors alongside a nationwide curfew effective from March 30 last year.

Also read:Japan begins nationwide inoculation drive

Previous Story

Recalling the ‘sweet’ memories

Next Story

Maldives tourism sees strong rebound

Latest from -Top News

Trump Lashes Out Over Fragile Truce

Trump mentioned that both countries “violated” the ceasefire that was announced late Monday….reports Asian Lite News US President Donald Trump on Tuesday issued a stern warning to both Israel and Iran, accusing

Global Brands Linked to Uyghur Labour Abuse

Labour rights experts warn that global brands are failing to account for the realities of their operations…reports Asian Lite News A recent investigation by The Bureau of Investigative Journalism has found that

Jaishankar Pays Tribute to Kanishka Victims

Jaishankar emphasised that the anniversary of the attack is a “stark reminder of why the world must show zero tolerance towards terrorism and violent extremism.”….reports Asian Lite News On the 40th anniversary

Taliban Severs Oil Deal with China Amid Growing Friction

Several countries have recently withdrawn from Chinese-funded infrastructure and resource deals, citing quality concerns, lack of transparency, and limited benefits for local populations….reports Asian Lite News The Taliban has cancelled a $540

Qatar Summons Iran Envoy Over Base Strike

Qatar’s Ministry of Foreign Affairs affirmed to Iranian Ambassador Ali Saleh Abadi that it reserves the right to respond to this flagrant violation in accordance with international law. Qatar on Tuesday summoned
Go toTop