$72 million boost and first-of-its-kind loan scheme to strengthen Fiji’s sugar economy
Fiji has launched key financial and insurance reforms to support its sugar industry and rural communities. Deputy PM Biman Prasad announced a USD 148,000 UNCDF-backed partnership with SCGF, introducing savings and emergency loan schemes via M-PAiSA. A rural fire insurance plan begins in September. The government also raised cane prices and committed FJD 72 million in the 2025–26 Budget.
To revitalise Fiji’s sugar industry and strengthen rural livelihoods, Deputy Prime Minister and Finance Minister Prof. Biman Prasad launched a suite of transformative financial and insurance reforms in Ba on Saturday night.
Speaking to farmers at Veisaru Sanatan Dharam School, Prof. Prasad said the initiatives would bring real, tangible support to the grassroots.
“Too often, initiatives like these are launched in boardrooms or urban centres far from the fields and faces of the farmers who will benefit most,”he remarked.
At the heart of the announcement was a new partnership between the Sugar Cane Growers Fund (SCGF) and the United Nations Capital Development Fund (UNCDF), backed by a USD $148,000 (FJD $330,000) grant.
This funding will power two major projects:
• The SCGF 5S (Special Social Security Savings Scheme) in collaboration with the Unit Trust of Fiji, and
• A Revolving Loans Facility, offering emergency loans of up to $2,000 via M-PAiSA — the first scheme of its kind in Fiji.
Prof. Prasad also launched a Limited Peril House Fire Insurance Scheme, created by SCGF in partnership with Sun Insurance. Starting 1 September 2025, the new cover will specifically support rural households facing disaster risks such as fires and structural damage.
In another boost for farmers, Ba Motor Parts was welcomed as the 22nd partner in the SCGF loyalty program, providing a 12.5% discount on mechanical parts — a timely support for tractor-dependent farming households.
“These initiatives reflect a government that is listening, responding and delivering where it matters most,” Prof. Prasad said.
The minister reaffirmed government support for the sugar industry, highlighting the recent price rise to $105.08 per tonne and the $72 million allocated in the 2025–2026 National Budget for sugar-related programmes, including subsidies, price support, and infrastructure upgrades.
A special parliamentary committee chaired by the Prime Minister has also been established to lead strategic reforms in the sector, with recommendations expected by November 2025.
Also in attendance were Minister for Multi-Ethnic Affairs and Sugar Charan Jeath Singh, UNCDF Country Coordinator Zeituna Mustafa Abdi, SCGF Chairman Ahemad Bhamji, CEO Raj Sharma, landowner representative Ratu Eveli Nauni, and members of the farming community.
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Source : The Australia Today
