 These are long-term, low-interest loans and are implemented by the Japan Bank for International Cooperation (JBIC). The primary role of loan aid is to help countries develop their social and economic infrastructures. In 1997, Japan granted for the first time a loan of 2,287 million yen (approx.F$32.7m) to Fiji Islands for the impllementation of the Nadi-Lautoka Regional Water Supply Project. The loan is to be repaid at an annual interest rate of 2.5% over 25 years, including a 7-year grace period. |
