ADB PLANS TO INCREASE LENDING TO FIJI

WELLINGTON, New Zealand (RNZI, Sept. 1) - The Asian Development Bank said it plans to increase annual lending to Fiji.

It said from next year, loans will total 40 million US dollars

Five loans totaling 120 million US will be made over the next two years to support projects to rehabilitate airports, upgrade roads, develop tourism in the outer islands, promote urban development, and expand rural electrification.

But the ADB also sounded a note of warning.

It said while the economy had made a significant recovery since the political upheavals in 2000, constitutional, land tenure, and sugar industry restructuring issues still needed to be resolved.

The Australian Associated Press said the bank planned to open a Pacific sub-regional office in Suva in February next year.

September 1, 2003

Radio New Zealand International: http://www.rnzi.com/

 

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