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

UN Slams Pakistan Over Minority Attacks

The minorities in Pakistan – including Ahmadiyya Muslims, Christians, Hindus, and Shia Muslims – continue to be neglected and increasingly subjected to targetted state-backed persecution….reports Asian Lite News Alarmed by rising violence

Cambodia-Thailand Agree to Truce

The border violence has claimed at least 35 lives and left more than 200 injured, based on figures from Thai and Cambodian officials….reports Asian Lite News Cambodia and Thailand have agreed to

Baloch Activist Thanks India, Slams Pakistan Terror

Mir Yar Baloch also appreciated the extraordinary courage and professionalism of the Indian Armed Forces, the “responsible and patriotic role” of the Indian media…reports Asian Lite News Prominent Baloch human rights activist

UK Warns China Over Taiwan Moves

Healey’s comments come amid rising global concerns over Chinese military activity around Taiwan and the growing Western focus on the Indo-Pacific region. British Defence Secretary John Healey has said the UK is

US Sticks to August 1 Tariff Deadline

US Commerce Secretary Howard Lutnick ruled out any possibility of an extension…reports Asian Lite News The US administration on Sunday said the August 1 deadline for imposing reciprocal tariffs remains unchanged and
Go toTop