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FDB Joins Crest Agriculture Show
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04 July 2012

The Fiji Development Bank this morning (4/07) presented a
sponsorship of $5,000 to the Ministry of Agriculture for the 2012
Crest Agriculture Showcase.

“FDB continues to play an integral part in this annual event
because the agriculture sector is one of key focus areas for
development not only for Government but also the Bank as a
development financial institution,” FDB’s General Manager
Relationships & Sales, Mr. Tevita Madigibuli as he handed over the
cheque to Director Animal Health & Production, Mr. Tomasi
Tunabuna.

“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 important place agriculture has in terms of Fiji’s
food security.”

The Fiji Development Bank is Fiji’s largest single lender to
agriculture with 55% of its total client portfolio at the end of June,

2012 comprising of farmers and food processors. According to the
Reserve Bank of Fiji’s market share dated 30 June, 2011, FDB held
48.4% of all loans to the agriculture sector for Fiji. FDB has also
increased its lending portfolio to this sector from $48.81MM (as at
30 June, 2011) to $61.34MM (at 30 June, 2012).

Mr. Madigibuli said that the event is a tremendous opportunity to
showcase the vast economic and business potential that exists for
this sector in Fiji.

In accepting the sponsorship, Mr. Tunabuna expressed his
ministry’s appreciation saying, “FDB has been the backbone of
financing for the agriculture sector for a very long time and we are
thankful to your continued sponsorship. We also look forward to
the bank’s support not only at future agriculture shows at the
national level but also at the divisional level.”

The sponsorship will go towards prizes for the main awards for
Best Forester and Best Fisherman as well as the commodity awards
for dalo, ginger, dairy, sheep, women in agriculture and value
adding.

This year’s Agriculture Showcase will be held in Labasa (27-27
July), Lautoka (6-8 August) and Suva (18-25 August). The Awards
will be presented at the main show in Lautoka on 10 August.

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