Banks to extend loan repayment relief
The Association of Banks in Fiji has confirmed COVID-19 financial relief assistance to businesses will be extended to 31st March next year, on a case-by-case basis.
Association Chair, Rakesh Ram says support for businesses severely impacted by the pandemic will continue as they work with the Reserve Bank of Fiji.
Ram adds there is a high-level of optimism for the economy to turn a corner by the end of this year and the opening of borders, herd immunisation and international borders opening sooner than expected are positive developments.
However, he adds that banks recognise that many businesses still require financial support as full recovery will be over a longer period before they return to pre-COVID trading levels.
The Association has also acknowledged many customers who have reverted to pre-COVID loan repayment arrangements or are at meeting interest costs to contain debt levels.
However, those customers that require further relief support, depending on their financial circumstances should contact their Relationship or Branch Managers to discuss and agree on their projected financial needs.
Credit: FBC TV
