Jul 30, 2021
ANZ partners with Australian Government to support critical infrastructure in Fiji
In a vote of confidence in Fiji’s long-term economic recovery, ANZ has partnered with the Australian Infrastructure Financing Facility for the Pacific (AIFFP) to support Fiji Airports' capital works projects.
ANZ Chief Executive Officer Shayne Elliott said ANZ is pleased to be working with the Australian Government through the AIFFP to fund the development of critical infrastructure in Fiji.
“ANZ plays an important role connecting customers to the growing trade and investment opportunities across the region,” Mr Elliott said.
“Investing in infrastructure that puts Fiji in a position to quickly scale up capacity once international travel resumes is critical to driving future growth.
“The partnership with AIFFP draws on ANZ’s global banking expertise and local industry insights to support the rebuild of Fiji’s economy.”
The innovative financing agreement will support Fiji Airports’ infrastructure to be upgraded to increase passenger capacity. Works at Nadi and other outer islands’ airports will upgrade aprons, expand aircraft parking and modernise air traffic management systems.
ANZ Regional Executive Pacific Tessa Price said ANZ has had a presence in Fiji for 141 years and this funding demonstrated the bank’s deep commitment to the Pacific.
“Fiji is the hub of the Pacific and we are optimistic about the long-term future of the region,” Ms Price said.
“Prior to COVID-19, Fiji’s economy had performed remarkably well over the past decade.
“Once safe travel corridors can be established and with the return of international tourism, we believe activity can return to pre-COVID levels.
“Naturally, Fiji’s national airport infrastructure will play a key role in Fiji’s economic recovery.
“ANZ is one the few AA- rated banks in the region and we’re pleased to partner with the Australian Government to help deliver a critical piece of infrastructure for the Pacific.”
Fiji Airports is the main provider of airport services in Fiji. It owns and operates the Nadi International Airport and manages the Nausori International Airport in Suva, as well as 13 domestic outer island airports. It also provides traffic management services to an airspace that includes Fiji, Tuvalu, New Caledonia, Kiribati, and Vanuatu.
This is the first loan guaranteed by the AIFFP and funded in local currency.