$70m investment a sign of confidence, says A-G

BRED Bank (Fiji) Valelevu branch in Nasinu. The bank’s chief executive officer Thierry CHARRAS-GILLOT said the investment of new funds would improve the bank’s capital position and help accelerate its growth in the Fijian market. Picture: SUPPLIED

Minister for Economy and Attorney-General Aiyaz Sayed-Khaiyum says BRED Bank had injected $70 million capital into their Fijian bank from Paris.

While speaking virtually during a ground breaking ceremony in Nadi, the Minister for Economy explained the significant impact on Fiji’s economy.

“The vaccination numbers are increasing significantly every day and so far we’ve had 400,000 Fijians who have received the first dose,” he said.

“Our target of course is we need to get 470,000 to 480,000 Fijians vaccinated to achieve that 80 per cent of the target population.

“This of course will open up the number of economic opportunities and it will also mean in time to come we will be able to travel.

“I’m not just talking about tourism but also within Fiji itself.

“I think it’s very important for us to understand that.

This day the BRED Bank has announced an injection of $70 million capital into their bank from Paris.

“This is new money being pumped into the Fijian economy and again it’s a sign of the confidence in the management of the Fijian economy and it’s a sign of the confidence in the financial markets in Fiji.”

He said through the Reserve Bank of Fiji, Fiji would continue to create financial environments to ensure businesses carried out investments for their continued growth.

“The RBF has very strategically invested in the right areas which ensures working capital are being pumped into the economy with these businesses and then they will grow.”

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