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ADFIAP Consulting conducts second mission to FDB

After a fact-finding mission to Fiji Development Bank (FDB) held from January 11-22, 2020 by the ADFIAP Consulting (AC) team’s Atty. Alberto B. Reyno and Mr. Victor C. Abainza, a second team of AC experts, Mesdames Corazon D. Conde and Arlene S. Orencia, conducted a second mission to FDB on March 7-13, 2020.

Based on the findings of the first mission, a report incorporating critical considerations and recommendations to address the Bank’s core issue of enhancing its overall sustainability and profitability was prepared and then presented by the second mission to the Bank’s Executive Committee prior to its endorsement to the Board of Directors.

The second mission also conducted site visits to four SME projects financed by the Bank, namely, one involving the purchase of a commercial property rented out as a restaurant and bar; a trading business selling new and second-hand tires and providing tire-alignment services; a second-hand clothing business that imports its stocks from Australia; and a garment factory that exports sportswear and shirts to Vanuatu and Nauru.

AC was engaged by FDB to review its credit extension and recovery processes, procedures and systems, as well as external sources covering industry best practices, regulatory requirements, and emerging issues and trends on credit risk management and asset recovery. The engagement was aimed at enhancing FDB’s efficiency and competitiveness as a regional development finance institution (DFI) in the Pacific.

Through its consulting engagement with AC, FDB also seeks to implement and establish a strong asset management and recovery system within the Bank that is consistent with the best, sound and prudent bank lending practices used by the banking industry worldwide.

FDB, as the sole DFI in the country, was accredited as a Direct Access Entity (DAE) to the Green Climate Fund (GCF) in October 2017 on the nomination by the Government of Fiji as part of the strategy to climate-proof infrastructure development and boost the resilience of the Fijian economy.


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