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Signing of Yen Loan Agreement for the Republic of Fiji: Contributing to the Realization of Investment and Mainstreaming of Disaster Prevention and Rapid Recovery after Disasters | News & PR

Posted on 2024-10-112024-11-04 by Editor in Chief

The Japan International Cooperation Agency (JICA) signed a Loan Agreement (L/A) with the Government of Fiji on October 11 in Suva, the capital of Fiji, for the “Disaster Recovery Stand-By Loan Project (Phase 2)”. The outline of the project is as follows

Signing Ceremony

Project Summary

Project Name

Disaster recovery stand-by loans (Phase 2)

Stand-by Loan for Disaster Recovery and Rehabilitation Phase 2

Country (region covered)

Republic of Fiji (All of Fiji)

Business Objectives

This project will promote the implementation of policy actions related to investment in disaster reduction and mainstreaming of disaster reduction in advance in Fiji, where disaster risk is high, and will prepare for temporarily increased financial needs during post-disaster recovery, thereby contributing to rapid recovery and sustainable growth of Fiji after a disaster occurs.

Business

JICA will confirm semi-annually that the Government of Fiji will implement the policy actions related to investment in advance disaster reduction and mainstreaming disaster reduction, and will promptly execute the loan when a natural disaster declaration is issued in the country and the borrower requests for the loan execution.

Loan amount (maximum)

5 billion yen

Interest Rates

0.40% (0.40%)

Redemption period

40 years (including 10 years of deferment)

Procurement Conditions

General untied

Implementing Agency

Ministry of Finance

Contribution to the achievement of the SDGs

Goal 3 (health and well-being for all)

Goal 11 (Create a community where people can continue to live)

Goal 13 (Take concrete action on climate change)

Schedule for future project implementation (tentative)

(1) Estimated time of completion of the project: Loan of the full amount of the maximum amount to be provided or the end of the stand-by period

(2) There will be no international competitive bidding for consulting employment or main construction work in this project.

read more

© Source JICA

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