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Wednesday, June 06, 2007

Asian Development Bank to continue with Fiji projects

The Asian Development Bank has said that it will continue with its projects in Fiji. The commitment by the President of the Asian Development Bank was made to a delegation from Fiji who visited the Bank in May 2007.

The Fiji delegation briefed the Bank on recent political events in Fiji including actions to be taken to take Fiji to democracy.

The Bank then said that it would continue with its existing projects in Fiji but would hold off any new projects until it made further assessments of the country.

The delegation also made presentations to potential investors and had meetings with asset and fund managers to provide an update on the Fiji economy, particularly for holders of Fiji's international bonds.

Investors have expressed their interest in providing finance for Fiji projects as well as marketing Fiji to a wide ranger of investors abroad.

Fund managers expressed their interest to manage external financing for Fiji projects.

The Fiji Government will now be pursuing those avenues to secure development financing for projects in Fiji.

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