AGRICULTURE – A PRIORITY SECTOR FOR FDB

CAPTION: FDB CEO Mr. Deve Toganivalu hands of the $5,000 cheque to Mr. Ropate Ligairi.

FDB chief executive officer Mr. Deve Toganivalu made these comments as he handed over a $5,000 sponsorship cheque to the permanent secretary for agriculture Mr. Ropate Ligairi for the 2013 Agriculture Show.

“The Agriculture Show has become an important event in our calendar because of the vital role the agriculture sector plays in our economy,” Mr. Toganivalu said.

“Even though agriculture contributes to only about 10% of the economy, it is the single most important sector for our people as some 65% of our total population rely on it for their livelihood. For the Bank, lending to this sector is a priority area because we understand the importance of the sector in terms of Fiji’s food security.”

“The development of agriculture has always been encouraged by the bank through the design of products and facilities that would encourage greater participation particularly for those in the rural areas. As of 30^th June, 2013 the bank’s agricultural portfolio stood at 38.53 per cent (1,586) by number and 16.71 per cent ($57.20MM) by value. In terms of market share, FDB holds 48 per cent.”

In receiving the cheque, Mr. Ligairi conveyed the gratitude of the ministry for the continuous support by FDB.

“We are indeed very thankful to FDB for their kind sponsorship and every year, we rely on organisations like them to make the Agriculture Show a success,” Mr. Ligairi said.