MANILA, PHILIPPINES (16 July 2019) — The Asian Development Bank (ADB) has approved a $200 million (F$430 million) policy-based loan to boost investment in Fiji’s private sector to help the country’s economy cope with, and rebound from, the impact of the coronavirus disease (COVID-19) pandemic.

The loan will help create a more conducive environment for private investment and business owners. It will also support reforms to improve the management of public finances and strengthen the performance of state-owned enterprises, which will have benefits for the private sector.

The assistance is the third phase of a program developed in partnership with the governments of Australia and New Zealand, the World Bank Group, and the Asian Infrastructure Investment Bank. Financial and technical support for the program was provided by ADB, the governments of Australia and New Zealand, the World Bank Group, and the International Monetary Fund’s Pacific Financial Technical Assistance