MERILL LYNCH OFFERS $500 MILLION FINANCING TO FIJI

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SUVA, Fiji (Fiji Daily Post, Sept. 18) - Fiji has received an offer of up to US$500 million [FJ$808 million] for bilateral loan financing.

This was confirmed by the Interim Minister for Finance, Mahendra Chaudhry, saying the offer was to engage in a relationship with one of the worlds leading investment banks.

"We are pleased to have discussions on the proposed offer, more particularly on the terms of the offer so as to assist us in our consideration," said Chaudhry.

Merill Lynch (Asia Pacific) Limited which is a Global Markets and Investment Banking Group believes that Fiji can take on additional funding to invest in projects that enhance economic welfare.

The bank has written to the interim minister giving an offer for bilateral loan financing for the Government of Fiji, having full confidence in its investment in the country.

Mitch Matharu, Managing Director of the Fixed Income, Currencies and Commodity section of the Banking Group said that despite political uncertainties, the long term prospects of the country were positive.

"Hence we would be interested in exploring opportunities to assist Fiji with its funding needs."

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