Plenary Session 1: The Economy and the

DFI: Situationer & Outlook

(Part II)

PRESENTATION by Deve Toganivalu, Secretary, ADFIPCEO, Fiji Development Bank &26 April, 2012.

Theme: “DFIs' Role in Sustainable Development amidst the Economic Crisis”

Bech-de-mer

Pearl

Turtle shell

Coconut oil

Sandalwood

Whale

blubber

Established in 1986

14 member countries

22 DFIs

Eligible industries- Agriculture- Forestry- Marine products- Mineral water- Information,

Communications & Technology

- Audio-visual

Anticipated slow global growth to impact Pacific economies in 2012

Weakening tourism from source markets

Limited investment in manufacturing and processing sectors

$4.2billion in 2011 – up by $1.2billion from 2010

Approx. 30% exported to Australia

Exports to NZ in 2011 was $82.7million – 64.3% of these was from Fiji

Service sectors for 60—70% of GDP

“Sustainable development is

the expansion of substantive

freedoms of people today

while making reasonable efforts to avoid seriouslycompromising those of future generations.”

UNDP Sustainable Development Report 2011

Sustenance: The ability to meet basic needs

Self-esteem: To be a person

Freedom from servitude: To be able to choose

Michael Todaro and Stephen Smith

(2011)

Opportunity to lobby for cheaper cost of funds

Alternative funding sources

Secure investors

El Nino & La Nina

Frequency of floods and cyclones

Rising sea levels

Sea acidity

Damage estimated at 0.01% of GDP –US $ 30MM and rising

FDB agricultural clients – 55%

At risk are:- Food security- Communities to displacement- Economic survival

Collectively PICTs emit

< 0.2% Equivalent

to emissions from Ireland, Oman or Denmark

Convert up to 90% of all electricity generated from fossil fuel to renewable sources.

Fiji’s fuel importation bill -$720MM in 2009; expected to exceed $1.1 billion in 2012.

Product with FDB since May 2010.

““Those who consume Those who consume farfar

more resources than more resources than theythey

require destroy the require destroy the lifelife

chances of those chances of those whosewhose

survival depends survival depends uponupon

consuming more.”consuming more.”

George Monbiot, author,George Monbiot, author,

columnist and columnist and environmentalenvironmental

campaigner (2012)campaigner (2012)

www.fdb.com.fj