Fiji's transport and tourism sectors will receive a boost, with the signing of a $68 million financing package to Fiji Airports that will assist to improve air services and connectivity in the region.
The financing is provided by the Australian Infrastructure Financing Facility for the Pacific (AIFFP), alongside additional Fijian dollar lending from ANZ bank.
Australian support will help fund essential maintenance and capital works at Nadi International Airport and several outer islands' airports, refinance existing debt, and support the infrastructure priorities of Fiji Airports.
Minister for Foreign Affairs and Minister for Women, Senator the Hon Marise Payne said the investment supports a pathway towards Fiji's long-term economic recovery post COVID-19.
"This partnership between the Australian Government and industry responds to the needs of Fiji and underscores the importance of the entire region working together to overcome shared challenges."
"This investment will support a critical aviation hub that services much of the South Pacific." Minister Payne said.
Minister for International Development and the Pacific, Senator the Hon Zed Seselja said this is a great example of why Australia established the AIFFP.
"Australia's loan and guarantee package will enable Fiji Airports to continue development during COVID-19, preparing for the reopening of Fiji's international border."
"Fiji's tourism-reliant economy has been hit hard by COVID-19. This project will help Fiji to be ready for increased tourism demand once international travel re-commences. This will be essential to Fiji's economic recovery."
The AIFFP's collaboration with ANZ is a strong opportunity for the AIFFP to work with industry to offer innovative financing solutions in the Pacific.
This deal together with the AIFFP's financing for the Tina River transmission system in Solomon Islands and the Palau undersea cable, brings the AIFFP's total financing to over $100 million.
