RBF Reactivates Natural Disaster Rehabilitation Facility for Homeowners and Businesses
Press Release No. : 06/2018
Date : 03 April 2018
In light of the effects of Tropical Cyclone Josie and the associated devastating floods particularly in the Western Division, the Governor of the Reserve Bank of Fiji, Mr Ariff Ali has today announced the reactivation of the Natural Disaster Rehabilitation Facility to assist affected businesses and homeowners.
The Reserve Bank has allocated $40 million for the Facility and businesses may apply for funding of up to $0.5 million at a maximum interest rate of 5 percent per annum, while affected homeowners can apply for funding of up to $5,000 at a maximum interest rate of 4.50 percent per annum.
This Facility is effective immediately and will be made available by all commercial banks, the Fiji Development Bank and Licensed Credit Institutions (LCIs)1 until 30 June 2018. Eligible borrowers will need to meet the credit criteria set by respective lending institutions.
More information on the Facility may be obtained from the Domestic Markets Unit of the Reserve Bank of Fiji.