Govt to borrow $253 million through off shore loans
Govt to borrow $253 million through off shore loans
By
fijivillage.com
Friday 23/11/2012
The Government will borrow $253 million through off shore loans to finance infrastructure projects for next year.
Permanent Secretary for Finance Filimoni Waqabaca said it will take them about fifteen to twenty years to pay off the loans which will be repaid through government's revenue.
Fiji Roads Authority upgrading project has an ADB loan of $10 million.
The Queens Highway upgrade has a $40 million loan from EXIM Bank, Malaysia.
The Sigatoka, Serea road improvement has a $22 million loan from EXIM Bank China.
The Buca bay/Moto road has a $24 million loan from EXIM Bank china while the Nabouwalu/Dreketi road upgrading has a $80 million dollars loan from Exim bank of Malaysia.
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